LAWRENCEVILLE, Ga. — According to Black Book data, the average price of a used vehicle for model years 2013–’17 fell by 2.5% in November. Car prices decreased 2.7% during the month and trucks fell by 2.3%. Average 12-month depreciation at the end of November for all vehicles was -12.5%.
Three segments saw monthly depreciation less than -1.0% during November: subcompact luxury CUVs (-0.8%), subcompact CUVs (-0.9%), and full-size vans (-0.9%). The subcompact luxury CUVs segment, which includes such models as the Audi Q3, BMW X1, Mercedes-Benz GLA-Class, and Mini Cooper Countryman, finished November with an average segment value of $16,325, a 15.9% decline from a year earlier.
Conversely, three segments shared the heaviest depreciation at -3.3%: minivans, full-size SUVs and CUVs, and compact cars. While only one of the three was a car segment, cars represented six of the 10 segments with the largest depreciation in November.
Six of the top seven segments with the lowest monthly depreciation were truck segments. In addition to the aforementioned three, also included are mid-size luxury SUVs and CUVs, compact vans, and compact luxury SUVs and CUVs. Each saw monthly depreciation of -1.6%.
“Entering the final month of the year we’re seeing typical depreciation trends across many of the segments listed, with most of the heavier depreciation affecting car segments this deep in the year,” said Anil Goyal, executive vice president of operations at Black Book. “Car segments for much of the year held very strong from healthy demand, but this momentum has stalled out in the final quarter of 2018.”