LAWRENCEVILLE, Ga.—This past week used vehicle values dropped faster than they have all year.
That’s according to Black Book’s weekly Market Insights report that shows the drop was seen across all car segments.
“The fourth quarter typically experiences the largest depreciation in vehicle values. This trend is already starting to show in the first two weeks of this quarter with the largest year-to-date weekly decline in car values,” said Anil Goyal, senior vice president of automotive valuation and analytics.
- Volume weighted, overall car segment values decreased by 0.92% last week, much higher than the depreciation rate of 0.61% seen in the previous four weeks.
- Sporty car, luxury car and full-size car segments declined the most by 1.32%, 1.24% and 1.03%, respectively.
- Volume-weighted, overall truck segment (including pickup, SUVs and vans) values decreased by 0.63% last week, higher than the depreciation rate of 0.55% seen in the previous four weeks.
- Sub-compact crossover, minivan and mid-size crossover/SUV segments declined the most by 1.13%, 1.03% and 0.88%, respectively.