Five model years of used vehicles depreciated 2.3% in November, which showed a slight improvement from October and remained in line with the typical weakening of values at this time of year, according to Black Book data.
Depreciation for 1- to 5-year-old vehicles saw a significant increase to 2.9% for October from the 2.3% September rate with passenger cars seeing greater weakness, according to Black Book.
A rising supply of used pickups coupled with aggressive pricing for new models is expected to cause a weakening in values in the wholesale market, according to new data from Black Book.
Rising car depreciation put a drag on used vehicle sales, which fell in value significantly more sharply in August compared to July and August from a year ago, according to Black Book.
Used vehicles from the 2011 to 2015 model years depreciated 1.5% in July, a slight improvement over June's 1.7% depreciation rate, reports Black Book.
Most used-vehicle segments are showing a steady rate, according to Black Book's most recent market report. Overall car values decreased by 0.53% during the past week. During the previous four weeks, the average depreciation rate was 0.43%.
The average price of a used vehicle for model years 2011-2015 depreciated 1.7% in June, following light depreciation in May. These vehicles fell 15.4% in value from year-ago-levels, according to Black Book.
Used vehicle values from the 2010 to 2014 model years fell 0.5% in May from April levels with cars showing a slightly higher depreciation rate than trucks, according to Black Book.
Rising used vehicle depreciation pulled average April values into the red in a month that's typically the last strong month of the spring season, according to Black Book.
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.
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