LAWRENCEVILLE, Ga. — Stronger sales at auction thanks to the start of tax season resulted in some of the lowest depreciation seen this year, according to Black Book’s Feb. 5 Market Insights Report.
Overall, car segment values declined 0.34% last week, nearly half as much as the 0.58% seen in the previous week. Overall, truck values stayed in line with the depreciation seen for much of the year, falling 0.50% last week vs. 0.46% decline recorded the week prior.
“It was a good week for mainstream car segments as tax season buying has begun with strong sales being reported at the auctions,” said Anil Goyal, executive vice president operations for Black Book.
Within the car segment, near luxury cars and sporty cars saw the biggest decline in wholesale value, falling an average of 0.72% and 0.68%, respectively. Mid-size cars had the best showing last week in terms of value retention, with values for the category inching down 0.03%.
Within the truck segment, full-size and subcompact luxury crossovers/SUVs had the weakest showing, as values declined 1.13% and 0.90%, respectively. Three segments — minivans, full-size vans, and small pickups — saw no change in values through the week.