Wholesale values continued to improve last week, as car and truck depreciation remained at low levels, according to Black Book’s Jan. 28, 2020 Market Insights report.
Overall car segment values declined 0.13% last week, compared to 0% the week before. Overall truck segment values decreased 0.28% last week, compared to 0.17% the week before.
Subcompact, midsize, and full-size cars had the best showing within the car segment last week, as values for the vehicles improved 0.08%, 0.09%, and 0.09%, respectively.
Near luxury, Luxury, and prestige luxury cars had the worst showing, with values falling 0.31%, 0.35%, and 0.39%, respectively.
Over in the truck segment, subcompact crossovers and small pickups had the best week, as the average wholesale value for the vehicle segments improved 0.15% and 0.13%, respectively. Meanwhile, compact vans and full-size pickups saw the steepest depreciation among truck segment vehicles, depreciating 0.79% and 0.54, respectively, through the week.
“The used market is hot already in this unusually warm weather in January, so far,” said Anil Goyal, EVP, operations at Black Book. “The buyers are eager to stock up, resulting in an early market recovery after steeper depreciation late last year.”