Car values continued to weaken and truck values strengthened last week, as the summer months approach, according to Black Book's June 24 Market Insights report.
Overall car segment values decreased 0.44% last week, compared to a 0.46% decrease the week prior. Overall truck segment values decreased 0.12% last week, compared to a 0.16% decrease the week prior.
Compact and prestige luxury cars led in depreciation among cars, as values for the segments decreased 0.68% and 0.69%, respectively.
Truck segment values overall were more stable, although there were a few outliers that experienced heavier depreciation. Subcompact crossovers/SUVs and full-size luxury crossovers/SUVs experienced the highest depreciation within the segment at 0.72% and 0.55%, respectively.
Pickups had a great week, as both small and full-size pickups saw healthier values week-over-week. Last week, small pickup values increased 0.26% while full-size pickup values increased 0.11%.
"Depreciation in car segments has increased after the spring season," said Anil Goyal, executive vice president, operations. "Pickup trucks, which usually retain strength in the summer months, went up in values last week."