LAWRENCEVILLE, Ga.—The average price of a used vehicle for model years 2011-2015 depreciated by 0.8% in February, according to Black Book.
Overall, cars saw depreciation of 0.8% versus trucks, which saw 0.7% depreciation. All vehicles are averaging a 12-month depreciation change of –17.9%.
In February, small pickups preformed the best, increasing their value by 0.2%. Vehicles in this category finished the last month with an average segment price of $19,138. The small pickup segment also managed to retain their value compared to year-ago levels the best, only depreciating 7.1% from 2016’s value of $20,597, Black Book reported.
Two segments saw a monthly depreciation of 1.8% in February, the highest depreciation for the month. Those segments include premium sporty cars and mid-size luxury CUV/SUV. Premium sporty cars finished the month of February with a value of $38,039, a 19.5% decrease from last year’s value of $47,239. Mid-size luxury CUV/SUV’s ended last month with an average segment value of $21,479, a -20.1% decrease from year-ago levels ($25,869).
Prestige luxury cars had the steepest decline in value in comparison to a year ago. The segment, which ended February with an average value of $37,294, saw a 25.6% drop in price from its year-ago value ($50,115).
"Vehicle retention values have held relatively strong for the second month in a row this year," said Anil Goyal, senior vice president of automotive valuation and analytics. "Consumer confidence scored above the expected rate for February, and this coupled with the tax rebate season could be having a positive influence on the retention of vehicle values since there are more sales of certain used segments taking place.”