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In the month preceding the start of the Spring season, trucks continued to show the resilience they've shown in past months. A few key segments showed particular strength and luxury vehicles continued to struggle.
Overall depreciation was lower last week and midsize car values, in particular, saw a noticeable lift.
Luxury car and truck values fell last week, as demand continues to climb for more affordable vehicles, according to Black Book's March 11 Market Insights report.
Analysts say a late start to the spring selling season could be to blame for a third consecutive monthly decline in Black Book’s Used Vehicle Retention Index.
Overall car segment values decreased by 0.42% last week, compared to 0.43% the week before. Overall truck segment values decreased 0.38% last week, compared to 0.40% the week prior.
A steady supply, thriving shipping market, and increased demand helped stabilize wholesale values going into 2019.
Wholesale luxury car and compact van values declined during a week where overall depreciation remained fairly stable.
Bidding was strong ahead of presidents day, which helped truck and car used values improve slightly last week.
Subcompact crossovers, compact luxury crossovers/SUVs, and compact vans fell by 1.78%, 1.61%, and 1.55% last week, representing the highest depreciation among all vehicles.
The two months of falling vehicle values may be an indicator of what depreciation might look like in 2019.