Cold Weather Brings Strength to Used SUV Depreciation
Average used-vehicle prices for model-years 2009-2013 depreciated by an average of -1.2 percent during February, the same level as the previous month, with Compact SUVs leading the month with the strongest retention at +0.9 percent, and the only segment with positive change.
by Staff
March 6, 2015
BEGGS
3 min to read
According to Black Book data, the average price of a used-vehicle for model-years 2009-2013 depreciated by an average of -1.2 percent during February, the same level as the previous month. Domestic cars changed -0.9 percent; import cars changed -1.5 percent; domestic trucks changed -0.8 percent; and import trucks changed -1.1 percent.
Average pre-recession annual depreciation was continually recorded between -15 percent and -18 percent, and Black Book expects 2015 depreciation near -14.5 percent.
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Prestige Luxury Cars saw the largest segment depreciation during January at -2.8 percent. Vehicles in this segment include the BMW 7-Series, Audi A8, Lexus GS, Mercedes-Benz S-Class, and Jaguar XJ. Vehicles in this segment finished the month with an average price of $34,714, a -18.8 percent change from year-ago levels ($42,739).
Compact SUVs led the month with the strongest retention at +0.9 percent, and the only segment with positive change. Vehicles in this segment include the Jeep Wrangler and Nissan Xterra. Vehicles finished with an average price of $19,398, a -2.9 percent change from year-ago levels ($19,985).
Trucks finished the month with seven of the eight best-performing segments, with the Upper Mid-Size Cars as the lone car segment finishing third-best overall with a -0.3-percent change. Vehicles in this segment include the Honda Accord, Nissan Altima, Toyota Camry, Volkswagen CC, Kia Optima, and Ford Taurus. Vehicles in this segment finished the month with an average price of $10,924, a -13.6-percent change from year-ago levels ($12,641).
BEGGS
"Perhaps the colder weather patterns helped heat up the sport/utility vehicle and truck segments during February, as we saw great strength in SUVs and crossovers," said Ricky Beggs, editorial director at Black Book. "Furthermore, while overall depreciation finished at -1.2 percent on the month, there are segments we feel could turn more positive due to spring type activity and continuing economic improvement. Also, some of the typical tax season cars might have reached their peak earlier in the calendar than last normal seasonal patterns."
Here is the complete breakdown of Black Book-recorded February value changes of used vehicles (2009-2013):
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