LAWRENCEVILLE, Ga. — The average price of a used vehicle for model years 2012-2016 depreciated by 1.4% in October, with car and truck values falling 1.8% and 1.1%, respectively, according to Black Book data. All vehicles are averaging a 12-month depreciation of 13.2%.
For the month of October, Full-size pickups saw the best value retention, only depreciating by 0.1%. Vehicles in this segment include the Chevrolet Silverado 1500, Ram 1500, GMC Sierra 1500 and the Ford F-150. Full-size pickups ended the month with an average segment price of $24,244, a resilient 4.7% drop from year-ago levels ($25,434).
Premium sporty cars saw the largest decrease in value last month, depreciating by 2.6%. Vehicles in the premium sporty car segment include the BMW 6-Series, Chevrolet Corvette, Porsche 911, Jaguar F-Type, Mercedes Benz SL-Class and the Lexus RC350. This segment entered November with an average segment price of $39,102.
Premium sporty cars have depreciated by 17.5% compared to its average segment price for the same month last year ($47,404).
Out of all vehicle segments, prestige luxury cars are seeing the highest depreciation over the course of the last 12 months, decreasing in value by 25% since November 2016. This segment’s current value is $32,213, but a year ago it was $42,966. Vehicles in this category include the BMW 7-Series, Lexus LS 460, Porsche Panamera, Jaguar XJ, Mercedes Benz S-Class and Audi A8.
“With the hurricane damage replacements continuing, we saw better than usual October depreciation rate. However, with most of the replacement activity behind us, we will start to see seasonal depreciation patterns as we enter the final quarter of the year,” said Anil Goyal, senior vice president of automotive valuation and analytics.
Originally posted on F&I and Showroom
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