Black Book: Car Values Down for First Time in Two Months
With the spring selling season now in the rearview mirror, the car segment broke its two-month streak last week of rising wholesale values. Only full-size and sporty cars realized higher wholesale values through the week.
LAWRENCEVILLE, Ga. — Average values for the wholesale car segment were down last week, breaking a two-month streak of rising car values, according to Black Book’s May 14 Market Insights report.
Overall, car segment values depreciated 0.08% last week, compared to the 0.05% increase the week before. Similarly, overall truck segment values were also down 0.08% last week, compared to 0.02% the week prior.
Contrary to the eight weeks prior, nearly all car segment wholesale values were down last week. Only two segments — full-size and sporty — saw higher wholesale values through the week. The steepest depreciation for the week came from compact and mid-size cars.
Within the truck segment, subcompact crossovers, minivans, and compact vans had the strongest performance through the week, registering 0.10%, 0.06%, and 0.97% wholesale-value increases, respectively.
“The spring market season is over as values show mild declines across the board,” said Anil Goyal, executive vice president of operation for Black Book. “Mainstream sedans have been in demand in the used market even as sales declined for new sedans.”
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