LAWRENCEVILLE, Ga. — The pendulum finally swung last week, with trucks showing higher depreciation than cars for the first time this year, according to Black Book.
Volume-weighted, overall car values decreased by 0.56% last week — the same rate recorded in the previous four weeks. As for trucks, values decreased 0.68% on a volume-weighted basis, which was higher than the average depreciation rate of 0.47% seen in the previous four weeks.
“So far this year, light trucks have performed better than the car segments in value retentions,” wrote Anil Goya, senior vice president of automotive valuation and analytics for Black Book. “However, last week we saw a different trend with larger drops in truck segments.”
In car segments, prestige luxury cars, sporty cars, and full-size cars declined the most, dropping by 0.99%, 0.97%, and 0.89%, respectively. In truck segments, full-size crossovers/SUVs, minivans, and full-size vans declined the most, dropping by 0.9%, 0.82%, and 0.77%, respectively.
“Overall, depreciation was 2.3% in November. Although crossovers and SUVs have done well, the smallest versions of this segment have underperformed,” the firm stated in its report. “Subcompact luxury and mainstream crossovers experienced the most depreciation last month at 3.5% or higher.”