Used values have held stable at the start of 2020, after experiencing steep declines at the end of 2019, according to Black Book’s Jan. 14 Market Insights report.
Overall car segment values last week decreased 0.44% last week, compared to 0.26% the week before. Overall truck segment values decreased 0.56% last week, compared to 0.44% the week before.
Compact, sporty, and near luxury cars experienced the steepest depreciation, as values for the vehicles were down 0.67%, 0.64%, and 0.59%, respectively.
Subcompact cars experienced the lowest depreciation among all vehicles last week, as values for the vehicle segment fell 0.06% through the week.
Compact vans along with subcompact and compact luxury crossovers/SUVs experienced the biggest value declines of the week, as values for the vehicle segments fell 1.50%, 1.05%, and 1.05%, respectively.
Like the car segment, the smallest vehicle segment within the truck segment saw the lowest weekly depreciation, as values for subcompact crossovers were down 0.11%.
“The values of used vehicles have been more stable in the new year after the steeper declines late last year. Sales conversion rates are reported to be higher in the auctions as dealers take advantage of the lower prices before the spring buying kicks in,” said Anil Goyal, EVP, operations for Black Book.