LAWRENCEVILLE, Ga. — The depreciation rate for both cars and trucks slowed down during the week of Nov. 4, according to Black Book.
Volume weighted, overall car segment values decreased by 0.46% in that week, which was lower than the 0.70% rate recorded in the previous four weeks. For the truck segment, values decreased by 0.34%, slightly lower than the 0.58% rate recorded in the past four weeks.
“Depreciation rate slows from steeper declines seen at the start of the quarter. Smaller cars continue to show larger depreciation as opposed to larger crossover/SUVs,” said Anil Goyal, senior vice president of automotive valuation and analytics.
In the car segment, prestige luxury cars and sub-compact cars realized the steepest decline in wholesale values. The average wholesale value for prestige luxury cars declined by 0.87% compared to the week before, while values for sub-compact cars dipped by 0.68% compared to the week prior.
Most vehicles in the truck segment saw depreciation rates that ranged from 0.21% to 0.77%. However, compact vans saw a much bigger decline. Compared to the week prior, the average wholesale value for compact vans fell by 2.18%, marking the biggest decline out of all vehicle segments.