Used Vehicles Depreciate 1.7% in June
Photo of 2015 Chevrolet Colorado courtesy of GM.
The average price of a used vehicle for model years 2011-2015 depreciated 1.7% in June, following light depreciation in May. These vehicles fell 15.4% in value from year-ago-levels, according to Black Book.
Cars saw noticeably higher depreciation in June (2.2%) compared with trucks (1.3%). The year-over-year depreciation rate is in line with pre-recession rates, according to the vehicle valuation data provider.
Sub-compact luxury SUVs saw the highest depreciation during June with a 3.5% decline. Vehicles in this segment include the Audi Q3, BMW X1, Mercedes-Benz G-Class, and the Mini Cooper Countrymen. Vehicles in this segment finished the month with an average price of $17,998, a -19.9% decline from year-ago levels.
Small pickups saw the best retention during the month with a 0.1% increase in value. It was the only segment to see a change in positive levels, and it registered the best 12-month retention rate. The segment increased 6.9% from a year ago, after reaching an average price of $19,601. Small pickups include the Chevrolet Colorado, Dodge Dakota, Ford Explorer Sport Trac, and the Toyota Tacoma.
“The overall monthly depreciation rate is showing typical seasonal patterns as we approach the mid-summer part of the calendar,” said Anil Goyal, senior vice president of automotive valuation and analytics. “Furthermore, in looking at the heaviest of depreciation in recent months, it’s interesting to see a few luxury categories listed among the smaller-vehicle segments.”