Steeper Market Decline Continues
Welcome to this week’s edition of Black Book Market Insights, with in-depth analysis of used car and truck valuation trends and insights straight from the auction lanes. Click here to download the full report.
This week’s Black Book Market Insights report shows a greater weakening in prices on vehicles in both car and truck segments heading into the 4th quarter. This week’s report also analyzes the falling retention values of 2-year old vehicles compared with the same time the last few years.
“Typical seasonality trends of higher depreciation in the fourth quarter continue. Crossover/SUV values, which have been strong all year, are also starting to see steeper declines,” said Anil Goyal, Senior Vice President of Automotive Valuation and Analytics.
- Volume weighted, overall car segment values decreased by 0.80% last week, higher than the depreciation rate of 0.69% seen in the previous four weeks.
- Mid-Size Car and Sporty Car segments declined the most by 1.20% and 0.88%, respectively.
- Volume-weighted, overall truck segment (including pickup, SUVs and vans) values decreased by 0.76% last week, higher than the depreciation rate of 0.57% seen in the previous four weeks.
- Most Crossover/SUV segments declined higher in value, led by Full-Size Crossover/SUV segment declining the most by 1.12% last week.
Past seasonality trends show that the vehicle depreciation is typically highest in the 4th quarter. This year is looking to be no different except that the retention values are lower this year than the trends in the previous four years.
Author: Black Book
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