Used Cars Continue to Thrive at Auctions
Courtesy of Black Book.
For the sixth week in a row, the car segment has had lower depreciation than the truck segment, according to Black Book’s March 12 Market Insights report.
The overall car segment experienced a 0.14% decline in average wholesale values last week, compared to a 0.10% decline the week before. Overall, the truck segment experienced a 0.22% decline last week, compared to 0.19% the week before.
Subcompact cars, compact cars, and sporty cars were three of the main contributors to the car segment’s strong performance. Respectively, the three segments saw wholesale values increase by 0.08%, 0.01%, and 0.20% over the previous week’s values.
In the truck segment, minivans experienced the lowest depreciation, remaining essentially unchanged week-over-week. Meanwhile, full-size luxury crossovers/SUVs saw the highest depreciation through the week, declining 0.66% in value last week.
“The spring market continues, especially for small cars and older units. Sporty cars are also starting to experience a seasonal lift in demand as warmer weather arrives,” said Anil Goyal, executive vice president, operations.
Related: Tax Season Continues to Benefit Lower-Priced Vehicles