November Used Vehicle Depreciation Reaches 1.9 Percent
Photo of 2013 Corolla courtesy of Toyota.
The average price of a used vehicle fell 1.9 percent in November from the prior month led by steeper-than-expected declines by full-size pickups, according to Black Book.
Vehicles from model years 2009-2013 sold for an average of $19,760 in November compared to $22,130 in October. The month was down from year-ago levels, when used vehicles sold in November of 2013 slid 1.7 percent from that October.
Truck segments saw some of their largest monthly depreciation this year, sliding 2.2 percent. Full-size pickups led all vehicle segments with 3 percent depreciation on the eve of Ford's introduction of its 2015 aluminum-body F-150 later this month.
Compact cars led car segments with 2.6 percent depreciation in November. This segment improved from October, when it depreciated 4.4 percent. Vehicles in this segment include the Honda Civic, Chevrolet Cobalt/Cruze, Toyota Corolla and Ford Focus. This segment finished the month with an average price of $9,081, a 16.2 percent decline from year-ago levels ($10,840).
The strongest segments included full-size passenger vans, mid-size pickups, and mid-size SUVs. The van segment was the only one to increase in value, rising 0.9 percent to $19,648. Mid-size pickups fell 0.6 percent to $16,860, while mid-size SUVs lost 0.9 percent to $19,529.
Prestige luxury cars logged the sharpest depreciation from a year ago, losing 19.2 percent in value to $35,823.
Full-Size Vans Only Vehicles With Rising Residual Values