The wholesale market endured another week of steep depreciation last week as both car and truck values fell in the first week of December, according to Black Book’s Dec. 10 Market Insights report.
Overall car segment values decreased 1.04% last week, compared to 0.91% the week before. Overall truck segment values decreased 1.18% last week, compared to 0.88% the week before.
“Steep decline of used vehicle values continued into December,” said Anil Goyal, EVP, operations, for Black Book. “Average weekly depreciation in the last eight weeks is over three times the average weekly depreciation seen year-to-date.”
Full-size cars experienced the lowest depreciation of the week within the car segment, as values for full-size cars fell by 0.68%. Alternatively, compact cars experienced the steepest depreciating, with values falling 1.38% through the week.
Compact vans had the lowest depreciation among truck segment vehicles, as average wholesale prices fell 0.39% through the week. Meanwhile, minivan values saw the biggest drop, falling 1.65% through the week.