Wholesale vehicle depreciation is continuing to climb as the industry move farther away from the spring market, according to Black Book's June 10 Market Insights report.
Overall car segment values decreased 0.36% last week, compared to 0.31% the week prior. Overall truck segment values decreased 0.16%, compared to 0.08% last week.
Full-size cars, luxury cars, and prestige luxury cars experienced the highest depreciation within the car segment last week at 0.62%, 0.52%, and 0.63%, respectively. Midsize and premium sporty cars saw some of the lower levels of depreciation among cars.
Three truck segment vehicles had particularly strong performances last week, full-size crossover/SUVs, compact vans, and small pickups each saw their values rise by 0.04%, 0.16%, and 0.03%, respectively last week.
Subcompact crossovers/SUV and subcompact luxury crossovers/SUV values fell the hardest within the truck segment, falling 0.65% and 0.67%, respectively.
"The overall depreciation rises as buyer interest wanes a little after a strong spring market," said Anil Goyal, EVP, operations for Black Book. "Trucks are retaining values better than cars."