LAWRENCEVILLE, Ga.—The average price of a used vehicle for model years 2013-2017 decreased in value 1.2% during June, with cars changing -1.6% and trucks -1.0%, Black Book reported.
All vehicles are averaging a 12-month change of -13.9%, which is a lower average depreciation than the typical pattern of -16% to -18% annually, the company said.
Two segments each saw positive changes in their average values during June: sporty cars at +0.5%, and compact vans at +0.3%. Vehicles in the sporty car segment include the Dodge Challenger, Chevrolet Camaro, Ford Mustang, BMW 1-Series, and the Mazda MX-5 Miata. Vehicles in this segment finished June with an average price of $13,347, a -11.1% change from year ago levels.
Vehicles in the compact van segment include the Chevrolet City Express, Ford Transit Connect, Nissan NV 200 and the Ram Promaster City. Vehicles in this segment finished June with an average price of $10,998, a -5.0% change from year ago levels (best performer of all segments).
Depreciation in Mid-Size Cars
Vehicles in the mid-size car segment saw the heaviest depreciation during June, slipping -2.4%. Vehicles in Mid-Size Car segment include the Nissan Altima, Chrysler 200, Honda Accord, Ford Fusion, Toyota Camry, Chevrolet Malibu, Kia Optima and the Hyundai Sonata. Vehicles in this segment finished June with an average price of $10,243, a -14.1% change from year ago levels.
Two other segments finished June with a depreciation rate of -2.0% or greater: mid-size luxury CUV/SUV at -2.1%, and minivans at -2.0%.
“After a strong spring market that saw better-than-average retention levels in early summer, June saw the largest vehicle depreciation dating back to the first part of the year,” said Anil Goyal, executive vice president, operations at Black Book. “In comparison to the depreciation rates seen in June in the previous five years, this year’s rate is the lowest largely due to the economic growth and consumer sentiment.”