LAWRENCEVILLE, Ga. — The story coming out of the auctions last week wasn’t the continued decline in car values, nor was the recovery of truck values after they topped the leaderboard in terms of depreciation during the first week of January. No, last week it was the steep decline in values of subcompact crossovers and subcompact cars that grabbed the spotlight, according to Black Book.
The segment joined the full-size van and minivan as the truck segments showing the largest decline in value, with compact crossovers leading the way last week with a value decline of $133, or 1.18%. Subcompact cars depreciated 0.98%, or $51, with only full-size cars and sporty cars registering higher depreciation.
Overall, truck values fell 0.39% last week, compared to 0.66% the week before. In the car segment, values decreased by 0.63% last week, compared to 0.57% the week before.
Luxury models in the truck and car segments saw some of the lowest depreciation during the week, according to Black Book.
“Cars continued to depreciate at a steady rate while most SUV segments did better in the second week of the year,” said Anil Goyal, executive vice president, operations at Black Book. “Generally, activity was reported to be slow in the auto auctions.”