Used vehicle values saw slightly higher depreciation last week, but overall remain fairly stable, according to Black Book’s Sept. 24 Market Insights report.
Standouts in the car segment were compact cars, midsize cars, and prestige luxury cars while standouts in the truck segment were full-size vans and luxury crossovers.
Overall, car segment vehicles depreciated 0.25% last week, compared to 0.18% the week prior. Overall, truck segment vehicles depreciated 0.39% last week, compared to 0.28% the week prior.
Compact cars had the best week within the car segment, as values for the segment were 0.04% higher than they were the week before. Midsize cars and prestige luxury cars had the highest weekly depreciation at 0.43% and 0.58%, respectively.
Within the truck segment, full-size vans had the best week, as values for the segment rose 0.06% week-over-week. Compact, midsize, and full-size luxury crossovers/SUVs saw some of the steepest depreciation through the week at 0.77%, 0.69%, and 0.61%, respectively.
“Used vehicle prices are starting to show weakness after a strong summer season. Auctions reported lower sales percentages as sellers held on to higher floors,” said Anil Goyal, EVP, operations for Black Book.