Luxury car and truck values fell last week, as demand continues to climb for more affordable vehicles, according to Black Book's March 11 Market Insights report.

Within the car segment, luxury cars experienced the steepest depreciation, falling 1% compared to the 0.72% the week prior.

Among trucks, compact luxury crossovers/SUVs experienced the steepest depreciation, falling 1.07% in average wholesale value compared to 0.54% the week prior.

Overall car segment values decreased by 0.51% last week, which was higher than the 0.42% decrease the week before. Overall truck segment values decreased 0.49% last week, which was higher than the 0.38% decrease from the week before.

The largest difference from week to week was higher depreciation among luxury segments nearly across the board.

Car segments that have seen relatively stable depreciation through the last couple weeks are subcompact, compact, and midsize cars. Last week, these segments depreciated 0.48%, 0.46%, and 0.38%.   

Among trucks, full-size vans and small pickups had the best showing last week. Full-size vans depreciated 0.09% while small pickups depreciated 0.11%, which represented the lowest value decrease among all vehicles last week.