Full-Size Vans Bolster October Depreciation
Photo of 2013 Chevrolet Express courtesy of GM.
Full-size cargo and passenger vans logged the least amount of depreciation in October and with pickups bolstered the used vehicle market, which saw a sharp increase from September, according to Black Book.
The average price of a used vehicle from model years 2010-2014 declined 2.6% in value during the month, compared to a decline of 1.5% in September. Black Book expects annual depreciation to come in at about 13% for the full year, which is less than the 15%-18% annual declines before the recession.
Full-size cargo vans fell only 1% to $19,608 and full-size passenger vans fell 1.2% to $20,083. Compact pickups, mid-size pickups, and full-size pickups fell 1.1% ($18,991), 1.3% (16,497), and 1.4% ($23,748).
Overall, trucks remain stronger at auctions with a 2% decline to $19,032 compared to cars, which fell 3.3% to $12,099. Year-over-year, trucks have depreciated 7.5% and cars have lost 15.3% in value.
Car segments saw the most depreciation in October, along with cargo mini vans that declined 5% to $7,530. The category that includes the Ford Transit Connect and Dodge Grand Caravan fell 16.3% year over year.