Depreciation rates fell to two-month lows for both cars and trucks last week, propelled by strong performances from vans, pickups, and sporty cars.
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As an example of this analysis, Black Book data shows that the Toyota FJ Cruiser, whose last model-year was 2014, has actually gone up in value by 25.7% compared to other vehicles that were listed in its segment.
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Auction volume was down 2.3% year-over-year for units up to five years old, and on a month-over-month basis, volume was down 16.3%, according to J.D. Power’s July Used Car and Light Truck Guidelines.
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A strong retail market has led to fewer no sales and continued stable wholesale prices, according to Black Book’s July 23 Market Insights report.
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Economic growth and positive consumer sentiment helped drive June’s depreciation rates to the lowest levels seen in five years, according to Black Book.
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June was an especially strong month for the used-vehicle market, resulting in J.D. Power Valuation Services’ Seasonally Adjusted Used Vehicle Price Index increasing 1.2 points from May to 118.2. Compared to a year ago, the index was up 4.1 points.
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Low depreciation among sporty cars and small sedans and SUVs helped maintain weekly wholesale values at stable levels last week, according to Black Book’s Market Insights for July 16.
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Wholesale prices had been on the decline since April 2018, however, a strong showing in June bucked that trend and moved current wholesale price performance ahead of last year.
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Overall, car segment values decreased 0.34% last week, compared to 0.30% the week before. Truck segment values decreased 0.25% last week, the same decline the segment experienced the week before.
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The escalating trade disputes between the U.S. and Europe may have an adverse effect on the used car market.
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