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.
Originally posted on F&I and Showroom