Vans Lead March Depreciation in Tax Buying Season
Photo of 2013 Freightliner Sprinter via Wikipedia.
Used vehicles in the 2009-2013 model years fell 0.7 percent in value in March in a market bolstered by tax buying season and strong residual values of full-size vans, according to Black Book.
Full-size passenger vans recorded the strongest retention value with a 1.5 percent increase from February and a 3.3 percent increase from a year ago. The average price at auction for vehicles such as the Dodge/Freightliner Sprinter, Ford E-Series and Chevrolet G-Series was $19,468.
Domestic cars showed relative strength in March, increasing 0.9 percent to $11,906, while domestic trucks fell 0.3 percent to $18,542 and import trucks fell 0.9 percent to $21,818.
Three car categories increased in March, including entry-level cars (0.1 percent to $7,699), upper mid-size cars (0.6 percent to $10,976), and full-size cars (0.9 percent to $12,012). Three truck categories also increased, including full-size cargo vans (0.9 percent to $20,315), sub compact CUVs (1.1 percent to $17,900), and full-size passenger vans.
Black Book began tracking sales of used subcompact CUVs, a category that includes the Buick Encore, Chevrolet Trax, Fiat 500X, and Jeep Renegade.
Premium sporty cars recorded the steepest depreciation among car categories in March at 1.2 percent to $46,147. They fell 13.3 percent from a year ago. Vehicles in this segment include the BMW 6-Series, Chevrolet Corvette, Mercedes-Benz SL and Cadillac XLR.