LAWRENCEVILLE, Ga. — Car segment values continued to thrive last week, as nearly all vehicles within the segment benefited from growing consumer demand, according to Black Book’s March 26 Market Insights report.
Last week, overall car segment values were up 0.26%, compared to the 0.01% depreciation the segment experienced the week prior.
Car segment values were already strong two weeks ago. The fact they remained essentially flat on a week-to-week basis was a testament to the strength of smaller cars during tax season. This past week’s performance resulted in the strongest week for car segment values in two years.
There were two main drivers of the car segment’s performance this week, the first of which was the continued strength of subcompact, compact, midsize, full-size, and sporty cars. Respectively, these vehicle segments saw their average wholesale values increase 0.32%, 0.89%, 0.36%, 0.06%, and 0.06% week over week.
The second driver was the improved performance of luxury car segments. Similar to last week, luxury vehicles were the only vehicles within the car segment to experience a decline in wholesale value, but it was at a lower rate than what was recorded the week prior.
Overall truck segment values were down 0.19%, compared to 0.27% the week prior. Subcompact crossovers/SUVs, compact crossovers/SUVs, and full-size vans were the top performers in the segment. Subcompact luxury and compact luxury crossovers/SUVs experienced the highest weekly depreciation.