LAWRENCEVILLE, Ga.—The pace of depreciation of used vehicles picked up in June, according to the latest data from Black Book.
The average price of a used vehicle for model years 2011-2015 depreciated by 1.7% during June, following light depreciation (-0.5%) in May. Cars overall saw noticeably higher depreciation at -2.2%, compared with trucks, which saw just -1.3% on the month. All vehicles are averaging a 12-month depreciation change of 15.4%, in line with pre-recession rates, Black Book stated.
Sub-compact luxury utilities saw the highest depreciation during June at -3.5%. Vehicles in this segment finished the month with an average price of $17,998, a -19.9% change from year-ago levels.
Small pickups saw the best retention during the month at +0.1%, the only segment to see a change in positive levels. Vehicles in this segment finished the month with an average price of $19,601, a -6.9% change from a year ago (best 12-month retention).
Four segments in particular have shown greater than 5.0% depreciation over the last three months. These segments include the prestige luxury cars (-5.6%), the compact vans (-5.5%), the sub-compact cars (-5.4%), and the luxury cars (-5.1%). Two more small-vehicle segments are close behind (compact luxury utilities at -4.6%; and the compact cars at -4.6%).
“The overall monthly depreciation rate is showing typical seasonal patterns as we approach the mid-summer part of the calendar,” said Anil Goyal, senior vice president of automotive valuation and analytics. “Furthermore, in looking at the heaviest of depreciation in recent months, it’s interesting to see a few luxury categories listed among the smaller-vehicle segments.”