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Used vehicle values continued to decline at the start of the new year, pushing sales rates at auction up, but moving prices down.
Wholesale values declined 0.3% for model years 2016-2017 and 0.2% for model years 2008-2015 in December.
Black Book’s Used Vehicle Retention Index finished 2018 1.9% higher than in the same time in 2017.
Overall, wholesale car segments values decreased 0.86% last week, compared to 0.72% the week before.
The average 12-month depreciation through the end of November for all vehicles was 12.5%.
As the year comes to a close, used sedan values are continuing to decline from the abnormally high levels that the segment saw through most of 2018.
November’s Index registered at 116.5, a 0.2% gain from the previous month.
The small pickup segment experienced its highest depreciation of the year last week, according to Black Book’s Dec. 3 Market Insights report.
Deprecation was low through most of 2018. Segments such as sedans performed better than they have in years past, while trucks and SUVs continue to retain their values well.
Vehicle values were stable last week. Seasonal trends and lower demand have accelerated depreciation higher than where it’s been for most of the year, but this recent week represented an improvement over the market’s performance two weeks ago.