Wholesale used-vehicle depreciation remained stable last week, after several weeks of accelerated depreciation, according to Black Book’s Oct. 22 Market Insights report.
Overall car segment values decreased 0.53% last week, compared to 0.51% the week prior. Overall truck segment values decreased by 0.53% as well, compared to 0.54% the week prior.
Subcompact cars experienced the heaviest depreciation within the car segment last week, as the average value for the segment fell 1.08%. Sporty, full-size, and mid-size cars experienced some of the lowest depreciation among cars at 0.32%, 0.37%, and 0.39%, respectively.
Small pickups saw the highest depreciation within the truck segment; values for the segment fell 1.23% through the week. Minivan values also saw noticeable depreciation at 0.86%. The lowest depreciation among truck segment vehicles came from full-size vans, which saw average values fall by 0.15%.
“Values of car and truck segment declined at a similar rate last week,” said Anil Goyal, EVP, operations for Black Book. “The no-sale rate at auto auctions continues to be high as buyers push down prices.”