Wholesale luxury car and compact van values declined during a week where overall depreciation remained fairly stable.
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Wholesale compact van values experienced the biggest decline at auction last week, depreciating 1.03% week-over-week.
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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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Used cars outperformed trucks in March, as full-size pickups, compact vans, compact cars, and sporty cars increased in value, while as overall used vehicles depreciated 0.6%, according to Black Book.
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Two-year-old compact van retention values declined sharply this year, with the values being four-percentage points lower this year for 2014 model-year vehicles in comparison to last year for 2013-MY vehicles.
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Vehicle segments across the board have seen an overall increase in depreciation, with the exception of compact vans which were flat for the week of Nov. 11 after having seen the lowest mark overall the week prior with a drop of 2.18%.
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Residual values of full-size vans have remained strong while compact vans have weakened in the past year, creating a widening gap that has created two used van markets for fleet sellers.
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Used Full-Size SUVs depreciated the least, while compact vans and Subcompact Luxury CUVs fell hardest in the auction lanes during January, according to Black Book's monthly report.
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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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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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