LAWRENCEVILLE, Ga. — While the truck segment realized its best week in terms of vehicle depreciation last week, values for used luxury cars tumbled, according to Black Book’s Jan. 31 Market Insights Report.
For the week of Jan. 20 to Jan. 27, the average wholesale price for model-year 2008-2014 prestige luxury cars depreciated 1.57%, or $466, compared to the week prior. This, according to Black Book data, amounted to the biggest single-week decline among all car segments this year. Luxury cars followed close behind with a value drop of 0.86%.
Volume-weighted, overall car segment values decreased by 0.46% last week, slightly higher than the depreciation rate of 0.42% seen in the previous four weeks, the firm stated.
The truck segment as a whole realized the smallest decline in value. Volume-weighted, overall truck segment values decreased by 0.27% last week, noticeably lower than the depreciation rate of 0.42% recorded during the last four weeks, the firm added.
Mid-size crossovers/SUVs and full-size crossovers/SUVs realized the biggest declines, with their values falling 0.51% and 0.40%, respectively.
“Market sentiment in auction lanes is optimistic with good sales reported last week,” said Anil Goyal, senior vice president of Automotive Valuation and Analytics. “Demand [is] picking up as dealers stock up for the tax refund buyers.”