LAWRENCEVILLE, Ga. — According to Black Book data, the average price of a used vehicle for model years 2012–’16 depreciated in value by 2.2%. Cars overall dropped 2.6% and trucks decreased 1.8% in value during November. All vehicles are averaging a 12-month depreciation of 13.2%.
Small pickups were the only vehicle category to increase in value during November, increasing in value by 0.4%. Vehicles in the small pickup category include the Toyota Tacoma, Chevrolet Colorado, GMC Canyon, Nissan Frontier and the Honda Ridgeline. Small pickups ended the month with an average segment price of $21,454, a 6.8% drop from year-ago levels ($23,030).
Subcompact Cars saw the largest decrease in value last month, depreciating by 3.7%. Vehicles in this segment include the Chevrolet Sonic, Ford Fiesta, Honda Fit, Toyota Yaris, Nissan Versa, Kia Soul and the Hyundai Accent. This segment entered December with an average price of $6,211.
Full-size pickups saw the least depreciation from year-ago value levels. This segment, which closed out November with an average segment price of $24,020, has dropped only -4.3% from its value in November of 2016 ($25,111). Vehicles in this category include the Chevrolet Silverado 1500, Ram 1500, GMC Sierra 1500 and the Ford F-150.
“After steady used car values in October, vehicle values overall decreased slightly in November,” said Anil Goyal, senior vice president of automotive valuation and analytics. “Values typically drop slightly around the holiday season as we reach late into the year, especially right before the tax rebate checks begin to spur buying activity in the first quarter.”
Originally posted on F&I and Showroom