SUVs, Mid-Size Cars Lead February Residual Values
Photo via Wikimedia.
Full-size pickups led vehicle depreciation in February, while mid-size cars, full-size cars, and utility vehicles held their value best, according to Black Book.
The average price of 2010-2014 model year vehicles declined 1.1% in the month. Cars fell 1.1%, while trucks declined 1.2%.
"Clearly the car segments have begun to pick up momentum as we inch closer to spring, especially mid-size cars and full-size cars," said Anil Goyal, Black Book's senior vice president of automotive valuation and analytics. "As we reach the pinnacle of spring, it will be interesting to see if cars perform similarly to last year or if they experience less retention during the tax season."
Mid-size cars topped the list by essentially maintaining their January value at $9,595. Vehicles in this segment finished February with a 18.8% decline from a year ago to $11,813.
Other categories with slight declines include compact crossovers (down 0.1% to $12,978), full-size cars (down 0.3% to $12,674), and subcompact luxury CUVs (down 0.3% to $16,481).
Full-size pickups lost 2.7% of their value to $22,502. The category has fallen 6.3% from a year ago. Other categories with the highest declines in February included subcompact cars (2.4% to $6,935) and subcompact crossovers (2% to $12,213).