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Wholesale values were way down last week, as various truck and car segment vehicles saw steep depreciation.
Small truck and car segment vehicles saw steep depreciation last week, continuing the trend of accelerated depreciation within the overall wholesale market.
Overall used vehicle values, and truck values in particular, were down month-over-month in October, according to Black Book’s latest Used Vehicle Retention Index.
After several weeks of accelerated depreciation, this week's Black Book Market Insights report shows more stable wholesale values.
Subcompact crossovers were the only segment that saw a positive change last month, compact vans and luxury cars saw the biggest declines.
Both the car and truck segment saw similar depreciation: overall car segment values decreased 0.51% last week compared to 0.65% the week before while truck segment values decreased 0.54% compared to 0.48% the week before.
The used wholesale market showed strength in September, as values overall held up in line with what’s expected in summer, but the market is also beginning to show signs of weakness.
Average wholesale used prices continued to see steep declines last week, as used values registered the largest drop since spring, according to Black Book’s Oct. 8 Market Insights report.
Used vehicle values are beginning to buckle as depreciation continues to accelerate, particularly among sedans, according to Black Book’s Oct. 1 Market Insights report.
