Vehicles led by compact vans are continuing to hold their values well through the midway point in February, thanks in part to tax season demand, according to Black Book’s weekly Market Insights report.
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Compact cars values remained flat last week in average wholesale value, representing the best week for the segment this year, according to Black Book’s Feb. 12 Market Insights report.
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Wholesale used-vehicle prices decreased 0.74% month over month in January. This brought the Manheim Used Vehicle Value Index to 131.0, a 4.9% increase from a year ago but the lowest level since last July.
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As the tax season begins to roll in, stronger sales at auction resulted in some of the lowest depreciation for cars seen this year, according to Black Book’s Feb. 5 Market Insights Report.
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After a few weeks of rising depreciation, truck and car depreciation appear to be stabilize, according to Black Book’s Jan. 29 Market Insights report.
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Overall, average wholesale car segment values declined 0.76% last week, compared to 0.63% the week before. Overall, truck segment values declined 0.48%, compared to 0.39% the week before.
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Wholesale vehicles averaged a 12-month depreciation of 13.2% in 2017, compared to a 12-month depreciation of 17.3% in 2016, according to Black Book.
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After leading depreciation in the first week of January, truck segment values saw a small recovery last week, while car segment values continued to decline at a similar pace, according to Black Book’s Jan. 15 Market Insights report.
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Manheim’s used vehicle value index — which tracks how wholesale used vehicle prices change month-to-month — for December came in at 132, 1.91% month-over-month decrease and an increase of 5.6% year-over-year.
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In a reversal from the past several weeks, truck depreciation outpaced car depreciation during the first week of the New Year, according to Black Book’s Jan. 8 Market Insights report.
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