The pendulum finally swung last week, with trucks showing higher depreciation than cars for the first time this year, according to Black Book.
A steep decline in Crossover/SUV wholesale values, which have been strong all year, may point to more than seasonality as the reason for the accelerated depreciation of two-year-old vehicles, Black Book said this week.
Last week, cars showed better retention that they did the previous four weeks, while trucks depreciated more than they have during that same timeframe, Black Book reported today.
Only two car segments ranked in the Top 12 for strongest monthly retention, the firm reported this week. It added that depreciation for all car segments topped rates recorded during the last three years for the month of August.
Over the last four weeks, depreciation rates for both cars and trucks have begun to show some consistency, according to Black Book, with truck depreciation picking up from the spring season.
In a joint report issued this week, the two firms said increased supply and incentives will drive higher depreciation in 2016. Auto ABS performance will face pressure, but no material concerns, the firms say.
The vehicle information firm reported that all segments reviewed showed less than 2.7% depreciation except for full-size pickups.
The vehicle-pricing firm reported today that the pace of depreciation in September remained relatively unchanged from August. It expects average depreciation to approach pre-recession levels by year-end.
Used-vehicle depreciation slowed modestly in June compared to May’s more rapid pace, the firm reported this week, with prices for vehicles up to eight years in age falling 2.5% on a monthly basis in June.
The average price of a used vehicle for model years 2009–2013 remained unchanged in April, according to data from Black Book.
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