Wholesale cars and truck depreciation has continued to accelerate through the midpoint of December, as the seasonal slide continues to take effect, according to Black Book’s Dec. 11 Market Insights.
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The average price of a used vehicle from model years 2012 to 2016 depreciated in value by 2.2%, in November, according to Black Book. Year-over-year, the average value for these vehicles has depreciated by 13.2%.
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Black Book's Used Vehicle Retention Index for November, rose 0.3% month-over-month from 114.6 to 115.0, its third straight monthly increase dating back to August when it was at 112.6.
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Respectively, subcompact cars, compact cars, and subcompact crossovers realized the highest depreciation rates among all vehicles tracked at 1.12%, 0.86%, and 1.38%.
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Sporty cars and compact vans saw the heaviest depreciation last week, according to Black Book’s Nov. 27 Market Insights report.
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Both car and truck wholesale values continued to fall last week, according to Black Book’s Nov. 20 Market Insights report.
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Wholesale prices for fleet lease consignor vehicles fell 1.6% in October from the prior month and 4.5% higher than a year ago, Tom Kontos said in his monthly commentary.
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Small cars saw the biggest weekly fall in average wholesale value while small pickups saw the strongest retention last week, according to Black Book’s Nov. 13 Market Insights report.
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Vehicles over 100,000 aren’t depreciating at the same as they used to due mostly to a tight supply of late-model used vehicles, according to Edmunds’ Q3 Used Vehicle Market Report.
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Used vehicles from one to five years old fell 1.4% in value in October in a steady used-vehicle market that showed significant improvement from a year ago with large pickups leading the way, reports Black Book.
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