Used Truck, Full-Size Van Prices Weaken
Black Book has new data that shows truck segments may be feeling additional pricing pressure, resulting in many trucks not holding their values as well as in previous years.
Nissan Titan, photo courtesy of Wikimedia.
Nissan Titan, photo courtesy of Wikimedia.
In value retention, all truck segments have performed worse in comparison to the same time last year, according to Black Book.
This year, the best-performing segment — with the lowest depreciation — is the full-size crossover/SUV, which has dropped 0.20% YTD 2016 compared to 0.12% during the same time last year.
According to Black Book, the worst-performing truck segments in 2016 versus in 2015 include full-size vans (-0.39% in 2016 vs. +0.05% in 2015); compact crossover/SUV (-0.26% vs. +0.03% in 2015); full-size pickups (-0.35% in 2016 vs. +0.02% in 2015); and small pickups (-0.28% in 2016 vs. -0.04% in 2015).
"Clearly, the sales success and consumer demand that trucks have enjoyed over the last few years will eventually catch up, and we're beginning to feel some of this tide turning in 2016," said Anil Goyal, Black Book’s senior vice president of automotive valuation and analytics. "We're beginning to see more of this volume return to the wholesale market, which is placing pressure on truck retention strength."
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