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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Mid-size SUVs from the 2010 to 2014 model years recorded the highest depreciation in August, slipping 3 percent from July to $18,650, while compact pickups increased in value during the month, according to Black Book.
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Entry mid-size cars actually showed a slight increase this past week, while overall, the volume-weighted car values decreased by 0.39 percent last week.
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The main factor driving depreciation rates will be rising used vehicle supply, varying by vehicle segments.
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Smaller cars have experienced heavier depreciation over the past 12-18 months, but it’s the small mainstream electric vehicles that are experiencing even heavier valuation drops.
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While most car segments continue to face generally higher depreciation compared with trucks, according to Black Book, this past week that it’s not just smaller cars feeling heavier depreciation right now.
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Overall, volume-weighted car values decreased by 0.62 percent the week of July 20, higher than the depreciation rate seen in the previous four weeks.
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Black Book announced that Ricky Beggs, previously senior vice president, was honored as the newest member of the Ring of Honor for the National Independent Automobile Dealers Association (NIADA).
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Smaller cars showed the highest depreciation levels in June, while SUVs, pickups, and vans showed relative strength in a used-car market that's now tilted toward larger, less fuel efficient vehicles.
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