Small truck and car segment vehicles saw steep depreciation last week, continuing the trend of accelerated depreciation within the overall wholesale market, according to Black Book’s Nov. 5 Market Insights report.
The vehicles that experienced the highest depreciation last week were subcompact cars, subcompact crossovers, and compact vans.
Starting in the car segment, overall depreciation for the segment was 0.51% last week, compared to 0.65% the week before.
Subcompact cars, which led depreciation, saw average values drop by 1.03%. The next highest depreciation came from luxury cars, which experienced 0.67% average depreciation.
The truck segment, overall, experienced an average depreciation of 0.66% last week, compared to 0.77% the week prior. Subcompact crossovers and compact vans saw the highest average wholesale depreciation, as values for the vehicles fell by 1.64% and 2.15%, respectively.
Small pickups had the lowest depreciation of the week. Meanwhile, full-size pickups experienced heavier-than-normal depreciation.
“Used market continues to be soft. Particularly, Full-size Pickups declined sharply in October, after registering strong retention trends in the year through September,” said Anil Goyal, EVP, operations, for Black Book.