According to Black Book data, used vehicles model-years 2008-2012 overall depreciated -2.1 percent in October, marking a noticeable change from September data recorded at -1.3 percent. Domestic cars depreciated -2.5 percent; import cars were -2.3 percent; domestic trucks were -1.7 percent; and import trucks were -2.1 percent. Average pre-recession depreciation is historically between -1 percent and -2percent monthly.
Full-size pickups and Full-size CUVs led all segments with the strongest monthly depreciation levels each at just -1.1 percent. The best-performing car segment was the Premium Sporty Cars at -1.6 percent.
Full-size pickups finished October with an average wholesale value of $23,073, a -4.5-percent change from same time year ago also the strongest performance during the last twelve months). This is the second straight month that this vehicle segment led all segments with monthly and annual retention strength, according to Black Book. Vehicles in this segment include the Ram 1500, Chevrolet Avalanche, Ford F-150, Chevrolet Silverado, Nissan Titan, GMC Sierra, and Toyota Tundra.
Premium Sporty Cars finished October with an average wholesale value of $46,656, a -14.1-percent change from same time year ago. Vehicles in this segment include BMW 6-Series, Mercedes-Benz CL Class, Chevrolet Corvette, Audi R8, Mercedes-Benz SL Class, and Cadillac XLR.
Full-Size Cars led all segments on the decline with a -3.4-percent depreciation during October. The average wholesale price for this segment finished at $12,826, a -15.9-percent change from the same time a year ago. Vehicles in this segment include Chrysler 300, Toyota Avalon, Mercury Grand Marquis, Chevrolet Impala, Nissan Maxima and Ford Taurus.
Three other segments also saw at least -3.0-percent depreciation during October, including Passenger Minivans (-3.1 percent); Entry Sporty Cars (-3.1 percent); and Compact SUVs (-3 percent). Additionally, three other segments saw depreciation more than -2.5 percent on the month.
Entry Mid-Size Cars avoided three straight months of the largest year-over-year depreciation by a narrow margin, with its -16.4-percent change a close second to Prestige Luxury Cars at -16.9 percent on the year.
“The depreciation levels during October are in line with what we’ve seen over the last few years at this time,” said Ricky Beggs, VP and editorial director of Black Book. “Used vehicles see larger depreciation compared with other times of the calendar because the new model year has just arrived at the dealerships.”
Here is the complete breakdown of Black Book-recorded October value changes of used cars (2008-2012):
Black Book Vehicle Values For October 2013 Bodystyle 11/1/2012 10/1/2013 M Chg 11/1/2013 12M Chg 12M Chg [$] [$] [%] [$] [$] [%] All Vehicles $21,182 $18,840 -2.10% $18,439 ($2,743) -12.90% Domestic $15,194 $13,295 -2.50% $12,957 ($2,236) -14.70% Dom. Trk $19,129 $17,861 -1.70% $17,552 ($1,577) -8.20% Import $22,928 $19,940 -2.30% $19,472 ($3,456) -15.10% Imp. Trk $23,692 $20,909 -2.10% $20,478 ($3,214) -13.60% Full-Size Car $15,259 $13,282 -3.40% $12,826 ($2,433) -15.90% Mini Van Wagon (Pass) Trk $15,494 $13,935 -3.10% $13,496 ($1,998) -12.90% Entry Sporty Car $21,868 $19,118 -3.10% $18,534 ($3,334) -15.20% Compact SUV Trk $17,492 $16,914 -3.00% $16,408 ($1,083) -6.20% Luxury Level Car $24,295 $21,251 -2.90% $20,641 ($3,654) -15.00% Compact CUV Trk $15,638 $13,545 -2.80% $13,160 ($2,478) -15.80% Entry Level Car $9,337 $8,079 -2.80% $7,854 ($1,483) -15.90% Near Luxury Car $21,382 $19,109 -2.40% $18,643 ($2,740) -12.80% Upper Mid-Size Car $13,561 $11,746 -2.30% $11,475 ($2,086) -15.40% Mini Van Cargo Trk $11,323 $10,439 -2.30% $10,198 ($1,125) -9.90% Mid-Size CUV Trk $22,503 $19,740 -2.30% $19,290 ($3,214) -14.30% Compact Pickup Trk $16,836 $15,659 -2.10% $15,330 ($1,506) -8.90% Prestige Luxury Car $43,857 $37,166 -2.00% $36,426 ($7,432) -16.90% Compact Car $11,117 $9,737 -1.90% $9,549 ($1,567) -14.10% Full-Size Van Cargo Trk $13,766 $13,273 -1.90% $13,018 ($748) -5.40% Luxury SUV Trk $38,329 $34,228 -1.90% $33,578 ($4,750) -12.40% Full-Size CUV Trk $24,798 $21,234 -1.80% $20,850 ($3,948) -15.90% Entry Mid-Size Car $13,204 $11,229 -1.70% $11,042 ($2,161) -16.40% Mid-Size SUV Trk $20,238 $18,467 -1.60% $18,168 ($2,070) -10.20% Premium Sporty Car $54,302 $47,396 -1.60% $46,656 ($7,646) -14.10% Full-Size Vans Wagon (Pass) Trk $14,686 $13,809 -1.50% $13,596 ($1,090) -7.40% Mid-Size Pickup Trk $18,418 $17,348 -1.40% $17,113 ($1,305) -7.10% Full-Size SUV Trk $23,432 $21,991 -1.10% $21,751 ($1,681) -7.20% Full-Size Pickup Trk $24,152 $23,320 -1.10% $23,073 ($1,079) -4.50%
