Spring Market is Over!
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 both car and truck segments seeing higher depreciation than the last several weeks, both dropping between 20-25% in value. This level of weekly depreciation most likely signals the end of the spring season.
“Spring market buying appears to have slowed as market values continue their slide with normal depreciation across most segments,” said Anil Goyal, Senior Vice President of Automotive Valuation and Analytics.
- Volume-weighted, overall car segment values decreased by 0.25% last week, worse than the average weekly increase of 0.06% in values over the previous six weeks.
- Prestige Luxury Car, Mid-Size Car and Sub-Compact Car segments declined the most by 0.55%, 0.49%, and 0.41%, respectively.
- Volume-weighted, overall truck segment (including pickup, SUVs and vans) values decreased by 0.20% last week, after a nearly flat market in the previous six weeks.
- Compact Van segment was the only light truck segment to see a moderate increase in values by 0.24%.
Full-Size Pickup Retention Rate
The chart above shows that the two-year retention rate of full-size pickups has held steady in the last three years. With increasing incentives and rising used supply later in the year on this segment, we expect the retention rates to decline.
Author: Black Book
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