Wholesale values saw steep declines in both the car and truck segment last week, as the overall wholesale market continues to experience seasonal drops, according to Black Book’s Nov. 26 Market Insights report.
“In the last three weeks, vehicles have depreciated at the highest rate seen this year,” said Anil Goyal, EVP, operations for Black Book.
Overall car segment values decreased by 1.05% last week, compared to 0.58% the week before. Overall truck segment values declined 0.67% last week, compared to 0.83% the week before.
Car segment depreciation was led by the subcompact, compact, and midsize cars. Subcompact car values decreased 1.13%, compact car values decreased 1.31%, and midsize car values decreased 1.21% week-over-week.
Premium sporty cars saw the lowest depreciation through the week at 0.33%.
Full-size vans registered the highest depreciation within the car segment, as values for the vehicle segment were down 1.26% over the preceding week.
Crossovers across luxury and mainstream segments also saw higher-than-average depreciation. Full-size pickups and minivans registered similar deprecation to crossovers.