GAINESVILLE, GA - Against a backdrop of record high fuel prices and the struggling economy, three-year-old used cars depreciated less in the three-month period ending May 1, 2008, than in the previous three-month period, which ended Apr. 1, 2008. According to Black Book, these vehicles depreciated 5.8 percent from Feb. 1 to May 1, while they had fallen 6.2 percent from Jan. 1 to Apr. 1.
The market segments with the greatest dollar depreciation for the three-month period ending May 1 mirror the pattern from the previous three-month time period ending Apr. 1. These market segments included premium sporty cars, prestige cars, luxury cars, luxury SUVs, and full-size pickups. The average depreciation of these five segments was $2,058.
The segments with the smallest dollar depreciation included compact cars, entry mid-size cars, upper mid-size cars, mid-size pickups, and entry-level cars. Dropping in value an average of only $257 shows just how much of a factor the cost of gasoline is within the used-vehicle market.