Black Book: Depreciation Slows for Cars and Trucks
Both the car and truck segments experienced an overall reduction in depreciation during the week of Oct. 28, with car and truck wholesale values decreasing by 0.53% and 0.58%, respectively, vs. 0.76% and 0.80% the previous week..
LAWRENCEVILLE, Ga. — Both the car and truck segments experienced an overall reduction in depreciation during the week of Oct. 28, according to Black Book.
Overall truck wholesale values decreased by 0.58% during that week, compared to 0.76% the week before. For cars, overall wholesale values decreased by 0.53%, compared to 0.80% the previous week. These results mark the first time in four weeks that car values have depreciated at a slower rate than truck values.
“Depreciation slowed a little last week after four weeks of steeper declines. However, auction reports continue to show spotty demand and higher no-sales,” said Anil Goyal, senior vice president of Automotive Valuation and Analytics.
In the car segment, prestige luxury cars, sub-compact cars and full-size cars took the biggest hits, falling 1.03%, 0.76% and 0.75% in average wholesale value, respectively. As for trucks, sub-compact crossover/SUVs and sub-compact luxury crossovers experienced the biggest declines, falling 1.96% and 1.66%, respectively.
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