Wholesale values saw unusually low depreciation last week, according to Black Book’s Jan. 21 Market Insights report.
Wholesale values as of the second week of the new year are holding stable, which is the inverse of the heavy depreciation that late 2019 saw.
Overall car segment values decreased 0.26% last week, compared to 0.68% the week before. Overall truck segment values decreased 0.44% last week, compared to 0.71% the week before.
Five of the most widely used vehicle segments among light-duty fleets saw relatively low depreciation in 2019.
The wholesale market experienced above average depreciation last week, but there is the sentiment among remarketers that values may begin to stabilize soon.
CUV/SUVs saw year-over-year declines to their wholesale values, but are still performing well due to continued demand for these segments and cheap gas prices, but an inflection point is approaching.
Overall car segment values decreased 1.04% last week, compared to 0.91% the week before. Overall truck segment values decreased 1.18% last week, compared to 0.88% the week before.
The last week of November continued the downward spiral in used vehicle values, marking the weakest month in two years for wholesale values.
Wholesale values saw steep declines in both the car and truck segment last week, as the overall wholesale market continues to experience seasonal drops.
Overall truck segment values declined 0.83% last week, compared to 0.99% the week before.