LAWRENCEVILLE, Ga.—Used vehicle values are holding up well in February, according to a new report that indicates the tax season and spring buying season are the two primary reasons.
Black Book’s latest Market Insights report shows that many car segments are unchanged in their depreciation levels in the past week.
“Tax season demand is starting to show up at the auto auctions as lower value vehicles hold prices well,” said Anil Goyal, executive vice president, operations at Black Book.
Key report findings:
- Volume-weighted, overall car segment values decreased by 0.23% last week, much better than the average weekly decrease of 0.47% in values over the previous four weeks
- Compact car, sub-compact car, mid-size car, and full-size car segments performed the best among all car segments with values holding still from last week
- Volume-weighted, overall truck segment (including pickups, SUVs, and vans) values decreased by 0.43% last week, similar to the average weekly decrease of 0.45% in values over the previous four weeks
- Compact van, small pickup, full-size van, and compact crossover/SUV segments performed the best among all the truck segments