Full-size pickup truck retention rates for model-year vehicles older than two years showed a slight decrease this year after steadily increasing over the last four years.
Retention rates for 2014-MY full-size pickup trucks fell to 64%, a 2% decrease from the 66% for 2013-MY vehicles last year. Retention rates for this segment showed a steady climb over the last few years, rising from 56% in 2010 to 59% in 2011 and then 65% in 2012, according to Black Book’s weekly report.
The report also found that overall car segment values decreased by 0.57% last week, which is better than the depreciation rate of 0.66% seen in the previous four weeks.
Sporty car, prestige luxury car and compact car segments declined the most by 1.20%, 0.99%, and 0.82%, respectively.
Overall truck segment values decreased by 0.58 last week, higher than the depreciation rate of 0.43% seen in the previous four weeks.
“The truck segments, particularly SUVs and pickups, are beginning to see larger declines after experiencing strong retention so far this year,” Anil Goyal, senior vice president of automotive valuation and analytics.
Full-size van, mid-size crossover/SUV, and full-size pickup segments declined the most by 1.02%, 0.75%, and 0.74%, respectively.