Fleet data collected in 2019 found that depreciation expenses for most vehicles went down in 2019.
Black Book's Used Vehicle Retention Index fell to 113.6 in April, a 0.2% decline from March. Despite the index now falling for five straight months, it is still 1.4% higher than the 112 registered a year ago.
Used vehicles from the 2011 to 2015 model years depreciated 1.5% in July, a slight improvement over June's 1.7% depreciation rate, reports Black Book.
Black Book has new data that shows truck segments may be feeling additional pricing pressure, resulting in many trucks not holding their values as well as in previous years.
Used vehicles depreciated an average of 3.6% in the first quarter compared to 0.6% in 2015 in a signal of sharper depreciation, but values improved in March over January and February levels, according to Black Book.
Vehicle depreciation is impacted by a number of factors, from supply and demand to overall economic conditions. While 2015 was relatively stable for depreciation, some challenges are on the road ahead.
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.
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.
The average price of a used vehicle from the 2009 to 2013 model years fell 1.2 percent in May with several truck and van segments registering positive gains from April, according to Black Book.
Used vehicles in the 2009-2013 model years fell 0.7 percent in value in March in a market bolstered by tax buying season and strong residual values of full-size vans, according to Black Book.
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