Trucks see higher depreciation than cars for 1st time in months
By Auto Remarketing Staff
But during the first week of July, some of the larger models began to experience more downward pressure on auction prices.
According to the latest Black Book Market Insights report, the Fourth of July holiday week brought with it large declines in the crossover segments as well as a few other truck categories.
"Cars experienced marginal depreciation, similar to the Fourth of July holiday week trend last year, while Truck values showed the highest weekly decline for the year," said Anil Goyal, the Black Book vice president of automotive valuation and analytics.
Last week, car prices at auction fell by an average of 0.19 percent, or $23, while trucks experienced a decrease of 0.36 percent, or $58.
This was the first time since May 1 that trucks have seen a higher rate of depreciation than the car segments.
The most significant drop among the truck segments was seen in the full-size CUV segment, which saw a drop of 0.69 percent, or $118, last week.
Compact CUVs also saw significant price declines, dropping by 0.66 percent, or $81, while midsize CUVs experienced a decline of 0.68 percent, or $43.
And though pickups have experienced stronger price retention this spring, the compact pickups (down 0.05 percent, or $7), midsize pickups (down 0.43 percent, or $68) and the full-size pickups (down 0.29 percent, or $56) all saw rates drop last week.
The only segment to see increases over the past four weeks has been the compact SUVs, which saw rates spike by 0.36 percent, or $73, last week.
And though all car segments saw prices drop for the fourth consecutive week, last week's results marked the smallest decline since May 1.
The largest drops were seen among the full-size cars, which saw prices decrease by 0.35 percent, or $35, and the luxury level cars, which dropped by 0.41 percent, or $84.
On the other hand, Black Book analysts pointed out the premium sport cars "continued to defy" almost all other car segments by outperforming the average depreciation for the past nine weeks.
Last week, the premium sporty cars only saw rates drop by $51, or 0.13 percent.
Black Book personnel also overheard comments in the lanes that reflect last week's data in regards to slowing depreciation for the car segments.