LAWRENCEVILLE, Ga.—The week prior to the Thanksgiving Holiday was the worst for used car values in all of 2017.
Black Book Market Insights report shows that used vehicle value depreciation hit the annual high just as Americans were preparing to visit friends and family across the country.
Sub-compact luxury crossovers saw the largest decrease in values last, dropping by 1.25%. A close second, minivans, saw the next-highest depreciation falling -0.94%.
"A great deal can change with values over a few weeks; many segments are rapidly shifting toward seasonal high declines," said Anil Goyal, senior vice president of automotive valuation and analytics.
Volume-weighted, overall car segment values decreased by 0.67%, the highest weekly average depreciation rate for cars this year.
The mid-size and near luxury segments also had their respective highest weekly depreciation rates of the year at 0.9% and 0.89%. The compact segment followed closely with a near-high, at 0.82%.
Volume-weighted, overall truck segment (including pickups, SUVs, and vans) values decreased by 0.5%, the highest weekly average depreciation rate since January.
The sub-compact luxury crossover segment had the highest weekly depreciation rate at 1.25%. Minivan and full-size crossover/SUV segments had their highest declines this year at 0.94% and 0.91%, respectively.