Photo courtesy of Black Book.
This week’s Black Book Market Insights report shows how the entire car and truck market showed broad declines this past week, with the exception of small pickups.
The report also detailed the weakened retention of Sub-Compact Cars, when compared to the previous. This is due to rising supply levels and still-low gas prices.
“The wholesale vehicle market experienced broad declines across most vehicle segments, led by the SubCompact Car segment continuing to drop the most,” said Anil Goyal, senior vice president of automotive valuation and analytics.
According to the report, here are other key stats:
• Volume-weighted, overall car values decreased by 0.43% last week. This is similar to the average depreciation rate of 0.40% seen in the previous four weeks.
• Sub-Compact Car led the decline by 0.96% followed by Luxury C0ar and Prestige Luxury Car segments declining at 0.68% and 0.57%, respectively.
• Volume-weighted, overall truck values decreased by 0.37% last week. This is similar to the average depreciation rate of 0.30% seen in the previous four weeks.
• Small pickup was the only segment with an increase of 0.22% last week.