Used Vans, Cars Bolster March Depreciation
Used cars outperformed trucks in March, as full-size pickups, compact vans, compact cars, and sporty cars increased in value, while as overall used vehicles depreciated 0.6%, according to Black Book.
Photo of 2014 Chevrolet Express courtesy of GM.
Photo of 2014 Chevrolet Express courtesy of GM.
Used cars outperformed trucks in March, as full-size pickups, compact vans, compact cars, and sporty cars increased in value, while as overall used vehicles depreciated 0.6%, according to Black Book.
Passenger cars depreciated 0.3%, while trucks fell 0.8% in value. All vehicles are depreciating at 17.9% over the past year. Black Book looked at wholesale data from the 2011 to 2015 model years.
Of the four highest-performing categories, compact vans preformed the best, increasing 2.1% in value to $9,813. Vehicles in this segment include the Chevrolet City Express, Ford Transit Connect, Mercedes-Benz Metris, Nissan NV and the Ram C/V. Compact vans have depreciated 20.9% from its year-ago price of $12,413.
Full-size pickups increased 0.1% in value to $26,593 and have depreciated 8.7% over the past year. Compact cars increased 0.2% to $13,537.
Prestige luxury cars showed the highest depreciation among segments, dropping 3.7% to $35,939 during the month. Vehicles in this segment include the Audi A8, Porsche Panamera, Jaguar XJ, Lexus LS 460, Mercedes-Benz S-Class and the BMW 7-Series. Vehicles in this category have fallen an average of 26.7% since last year's value of $49,000.
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