The last week of November continued the downward spiral in used vehicle values, marking the weakest month in two years for wholesale values, according to Black Book’s Dec. 3 Market Insights report.
Overall car segment values decreased 0.91% last week, compared to 0.86% the week before. Overall truck segment values decreased 0.88% last week, compared to 0.79% the week before.
The highest depreciation within the car segment came from luxury vehicles with near luxury car values falling by 1.24% and luxury car values falling by 1.36% through the week.
Compact cars experienced some of the lowest depreciation of the week at 0.34%.
Looking at the crossover segment, subcompact and full-size CUVs/SUVs experienced the steepest declines of the week. Subcompact crossover/SUV values declined by 1.50% and full-size crossover/SUV values declined by 1.57%.
Among truck segment vehicles, full-size van and small pickups retained their values the most, as the 0.24% depreciation rate the segments experienced last week was the lowest of all vehicles.