Cars showed better retention in the last week of September than in the previous four weeks, while trucks depreciated more than they have during that same timeframe.
Car values decreased by 0.57% last week, lower than the segment’s 0.66% average depreciation rate recorded over the previous four weeks. Truck values decreased by 0.58%, which was higher than the average depreciation rate of 0.43% recorded during the same timeframe, according to Black Book.
“Broader declines seen in the market last week as segments with larger declines included sub-compact cars, sporty cars, mid-size crossovers and full-size pickups.” said Anil Goyal, senior vice president of Automotive Valuation and Analytics.
The sporty car, prestige luxury car and compact car segments declined the most, dropping by 1.20%, 0.99%, and 0.82%, respectively. In the truck category, full-size vans, mid-size crossovers and SUVs, and full-size pickups declined the most, dropping 1.02%, 0.75%, and 0.74%, respectively.
On the other side of the spectrum, subcompact luxury crossovers and compact vans showed the greatest retention in the truck segment, depreciating 0.24% and 0.14%, respectively. On the car side, the mid-size car and near luxury car held their values best, depreciating by 0.28% and 0.25%, respectively.
Overall, trucks performed better than cars last quarter, with the full-size pickup performing the best with a 3% quarterly depreciation rate. The subcompact crossover was the worst performing segment with 8% quarterly depreciation.
Editor's note: This story originally appeared on F&I Showroom, which is a Bobit Business Media publication.