LAWRENCEVILLE, Ga. — The average price of a used vehicle for model years 2011-2015 depreciated 1.7% in June, following light depreciation in May (0.5%). On a year-over-year basis, these vehicles fell 15.4% in value.
Four segments have shown particularly high levels of depreciation over the last three months: prestige luxury cars (5.6%), compact vans (5.5%), sub-compact cars (5.4%), and luxury cars (5.1%).
Trucks continue to exhibit pricing strength, as they claimed the lowest level of depreciation (1.3%) thanks to strong demand. On the flip side, car values fell twice as much as 2.2%.
“The overall monthly depreciation rate is showing typical seasonal patterns as we approach the mid-summer part of the calendar,” said Anil Goyal, senior vice president of automotive valuation and analytics. “Furthermore, in looking at the heaviest of depreciation in recent months, it’s interesting to see a few luxury categories listed among the smaller-vehicle segments.”
Small pickups like the Chevy Colorado and Toyota Tacoma saw the best retention during the month, according to Black Book. The average price for small pickups at the end of June was $19,601, a 6.9% decrease from a year ago.
Sub-compact luxury utilities like the Audi Q3 and BMW X1 recorded the highest depreciation during the month at 3.5%. The average price for vehicles in this segment was $17,998, a 19.9% decrease from the same time last year.
All vehicles, Black Book stated, are averaging a 12-month depreciation change of 15.4%, which is in line with pre-recession rates.