LAWRENCEVILLE, Ga. — The wholesale value of 2008-2014 model-year cars continued to fall last week, according to Black Book’s Market Insights report. While many of the familiar trends — trucks performing better than cars — were present, there were some outliers.
During the week of Aug. 12, small pickup retention slipped and posted a depreciation rate of 1.22%, a much steeper decline than its full-size counterpart. During the same timeframe, full-size pickups recorded a depreciation rate of 0.18%.
With the exception of sub-compact crossovers, every crossover segment reported depreciation rates at or below 0.40% — sub-compact crossovers experienced a 2.14% decline in value.
“Wholesale values of car segments continue their decline, now at the fastest pace seen this year, while most truck and SUV segments show stability,” said Anil Goyal, senior vice president of automotive valuation and analytics.
Sub-compact, compact and mid-size cars realized depreciation rates of 0.94%, 0.88% and 0.92%, respectively. Larger full-size cars fared slightly better with a depreciation rate of 0.76%. Near-luxury and luxury cars performed the best out of the car segment, with deprecation rates of 0.68% and 0.61%, respectively. Prestige luxury cars were the exception, as they realized the steeped decline of 1.02%.
Volume weighted, overall car segment values decreased by 0.78% last week, the same as its depreciation rate of 0.77% from the week prior, the report noted. Also volume-weighted, values for the overall truck segment — including pickups, SUVs and vans — decreased by 0.32%, which was better than the 0.48% depreciation rate recorded the previous week, the report added.