Used compact and midsize passenger cars held their value better than pickups and cargo vans in April, and overall vehicle depreciation eased due to a strong spring selling season, according to Black Book.
Used vehicles from 2012 to 2016 increased 0.3% in value in the month. Cars increased 1.3% and trucks depreciated 0.4%. These vehicles depreciated 15.1% from a year ago.
Compact cars led all categories with a 5.3% increase in value to $8,210, while midsize cars increased 3.1% to $9,732.These categories depreciated 13.7% and 15.5% respectively from a year ago.
Depreciation of fleet trucks and vans was higher, as trucks saw sharper depreciation than vans. Full-size pickups fell 3.2% on the month and 10.2% from a year ago to an average of $22,781. Small pickups fell 1.2% on the month and 9.9% for the year to $20,168.
Full-size vans depreciated 1.8% in April and 9.2% from a year ago to $16,557, while compact vans were flat on the month and depreciated 9% from a year ago to $10,143.
Compact SUVs fell 0.7% in April and 13.5% on the year to $11,814.