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.
Used vehicles depreciated an average of 3.6% in the first quarter compared to 0.6% in 2015 in a signal of sharper depreciation, but values improved in March over January and February levels, according to Black Book.
Full-size pickups led vehicle depreciation in February, while mid-size cars, full-size cars, and utility vehicles held their value best, according to Black Book.
Used Full-Size SUVs depreciated the least, while compact vans and Subcompact Luxury CUVs fell hardest in the auction lanes during January, according to Black Book's monthly report.
Plan ahead for the future and have discussions with your senior management about costs and what the future has in store for your fleet. While it looks like the cost of a gallon of gasoline may be going down, the cost of everything else is going to go up.
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