Cars saw their lowest depreciation of the month while trucks saw their lowest depreciation since September.
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This week’s Black Book Market Insights report looks at end-of-year trends, which are showing the usual December slowdown in auction activity.
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Used vehicles depreciated 2.8% in November during a month that typically sees higher depreciation as vehicles lose greater value toward the end of the year, reports Black Book.
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Wholesale values have continued to decline at a relatively high rate in recent weeks, a foreseen trend caused by the impact of seasonality.
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Full-size cargo and passenger vans logged the least amount of depreciation in October and with pickups bolstered the used vehicle market, which saw a sharp increase from September, according to Black Book.
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While entry-level cars are showing some of the largest declines of the year, possibly related to gasoline prices, diesel prices are not having a similar impact on diesel trucks.
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For the week of October 20, Black Book reports that overall car values decreased by 0.63 percent and volume-weighted truck values decreased by 0.62 percent.
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Volkswagen's diesel models have lost their value in the auction lanes at a much sharper rate than comparable gasoline models since revelations came to light that the company had included a software cheat in the vehicles to beat emissions tests.
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Used vehicles sold at auction declined 1.5% in value in September — a depreciation pace relatively unchanged from August — in a month that saw relative strength in some truck segments and compact cars continue their slide, according to Black Book.
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This past week, full-size, compact, and entry midsize segments all lead with -1.08 percent, -0.98 percent, and -0.81 percent, respectively.
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