Used cars of all sizes outperformed trucks, vans, and larger SUVs at wholesale auctions in March, Black Book is reporting.
Six of the eight top-performing vehicle segments were cars, and the other two were smaller SUVs. Compact cars topped the list with a 2.5% increase in value to $9,349 compared to February. The segment has depreciated 14.3% in the past year.
Overall, vehicles depreciated 0.4%, which was an improvement from February's 1.1% depreciation level. Cars increased in value by 0.6%, while trucks decreased 1.1%. All vehicles depreciated 15% from a year ago.
Other car segments also performed well, including subcompact cars (up 1.3% to $7,187); sporty cars (up 1% to $13,597); full-size cars (up 0.6% to $14,439); and midsize cars (up 0.5% to $11,509).
Smaller SUVs also fared well, as subcompact SUVs increased 0.7% to $12,494, while compact SUVs increased 0.1% to $13,674). Compact vans were the only other segment that increased in value, moving up 0.2% to $11,187.
Other fleet categories were slightly lower, including full-size pickups (down 1.3% to $24,968) and full-size vans (down 0.8% to $18,308). In the past year, these segments have depreciated 9.2% and 9.3% respectively. Luxury SUVs saw the heaviest depreciation in March with subcompact luxury SUVs falling 2.6% to $18,639.
Black Book tracks wholesale sales of 2012 to 2016 model year vehicles.