Compact SUVs, Minivans Lead April Auction Surge
Photo of 2012 Dodge Grand Caravan courtesy of Fiat Chrysler.
Compact SUVs and cargo minivans paced a strong April for remarketers, as used vehicles from the 2008-2012 model years rose 0.9 percent in value in a month that's typically one of the strongest of the year for auctions.
The average retention value of used vehicles surged in April, following a strong March where used vehicles depreciated only 0.3 percent, according to Black Book.
Compact SUVs and cargo minivans showed the strongest retention among truck segments, each rising 3.5 percent in value during the month. Compact SUVs include the Jeep Wrangler and Nissan Xterra, while cargo minivans include the Dodge Caravan, Ford Freestar, and Chevrolet Uplander. Compact SUVs sold for an average price of $16,410, while cargo minivans sold for $9,543.
For the second straight month, entry-level cars led all segments. They gained 4 percent in value during April during a period of rising gasoline prices. This segment has gained 6.6 percent in value since the end of February. These vehicles include the Chevrolet Aveo, Honda Fit, Kia Rio, Nissan Versa, and Toyota Yaris. The average price in this segment was $7,792.
Prestige luxury cars and luxury SUVs saw the highest depreciation in the car and truck categories, according to Black Book.
Prestige luxury cars fell 1.8 percent in value in a category that includes the BMW 7 Series, Audi A8, Mercedes-Benz C Class, Lexus GS Class, Mercedes-Benz S Class, and Jaguar XJ. The average price in this segment was $33,043.
Luxury SUVs fell 0.8 percent in April with an average price of $33,331. This category includes the Cadillac Escalade, Toyota Land Cruiser, Land Rover LR3 and LR4, Lincoln Navigator, and BMW X5.