LAWRENCEVILLE, Ga.—After starting the year strong, depreciation rates on used cars are once again exceeding that of trucks.
According to Black Book’s Market Insights report, cars have begun to see larger depreciation since late spring, after a stronger-than-expected tax season earlier in the year.
“Clean quality used vehicles with low mileage remain in demand, however as expected, the overall wholesale market continues to soften as we enter the last month of summer,” said Anil Goyal, senior vice president of automotive valuation and analytics.
- Volume-weighted, overall car segment values decreased by 0.57% last week, with six of nine segments depreciating more than half a percentage point
- Mid-size car and luxury car segments declined the most by 0.87% and 0.82%, respectively
- Volume-weighted, overall truck segment (including pickups, SUVs and vans) values decreased by 0.28% last week, only three truck segment received steeper weekly depreciation rates than that of the prior week
- Small pickups declined the most among truck segments by 0.71%, it also has the highest four-week depreciation rate with an average of 0.66%