LAWRENCEBURG, Ga.—Is the spring car-buying season over?
Black Book thinks so. The company’s latest Market Insights report shows both car and truck segments are seeing higher depreciation than the last several weeks, both dropping between 20%-25% in value.
“This level of weekly depreciation most likely signals the end of the spring season,” Black Book said.
“Spring market buying appears to have slowed as market values continue their slide with normal depreciation across most segments,” said Anil Goyal, senior vice president of automotive valuation and analytics.
Key report findings:
- Volume-weighted, overall car segment values decreased by 0.25% the week of May 8, worse than the average weekly increase of 0.06% in values over the previous six weeks.
- Prestige luxury car, mid-size car and sub-compact car segments declined the most by 0.55%, 0.49%, and 0.41%, respectively.
- Volume-weighted, overall truck segment (including pickup, SUVs and vans) values decreased by 0.20% the week of May 8, after a nearly flat market in the previous six weeks.
- Compact van segment was the only light truck segment to see a moderate increase in values by 0.24%.