Pickup, SUV Auction Values Strongest In Nov.
Photo of 2012-MY Frontier courtesy of Nissan.
Compact pickups and compact SUVs retained the most value in remarketing sales during November, according to a Black Book report released Monday.
The two segments of vehicles beat the pre-recession depreciation rate of 1-2 percent per month by losing only 0.5 percent for compact pickups and 0.6 percent for compact SUVs. The average sale price for November came in at $15,281 and $16,233 respectively. Examples of compact pickups include the Nissan Frontier, Mazda Pickup, Ford Ranger, and Toyota Tacoma.
The third- and fourth-place segments for retention value also came from the truck segment with mid-size pickups and full-size pickups declining 1 percent each to $16,950 and $23,551.
At the same time, entry-level cars and entry mid-size cars logged the highest decreciation rate at 3.7 percent and 2.5 percent respectively. The average sale price was $7,631 and $10,869 for those segments. Examples of entry-level cars include the Hyundai Accent, Chevrolet Aveo, Honda Fit, Nissan Versa, Toyota Yaris.
With the price of gasoline at a three-year lower, buyers appear to be opting for larger vehicles and shying away from the more fuel-efficient models.
"As gas prices steadily fell during most of November, it seems that this helped the truck segments on the low depreciation level as well as pushed a couple of more fuel efficient segments to the greater depreciation levels," said Ricky Beggs, Black Book's editorial director.
Overall, vehicles depreciated an average of 1.7 percent in November, a slight improvement from the 2.1 percent rate in October. Vehicles have depreciated 12.7 percent from a year ago. Black Book data included sales of vehicles from model years 2008-2012.