Depreciation Numbers in Peak of Spring Show Market Isn’t as Strong as Years Past
LAWRENCEVILLE, Ga. (April 12, 2016) – According to Black Book® data, the average price of a used vehicle for model years 2010-2014 declined -0.9% during March. Cars declined -0.4% and trucks declined -1.3% during the month, demonstrating the peak of the spring selling season.
In a sign that overall year-over-year depreciation continues to accelerate, the first quarter of 2016 saw vehicle depreciation of -3.6%, compared with -0.6% during the same time in 2015.
Full-Size Van led all vehicle segments with the highest depreciation on the month at just -2.2%. Vehicles in this segment primarily include the Chevrolet G1500, G2500 and G3500 Vans, Ford E150, E250 and E350 Vans, Vehicles in this segment entered April with an average segment price of $19,042, a 11.7% drop from a year ago ($21,573).
One segment saw zero depreciation for the month and three segments increased in value. Sub-Compact Crossovers saw the value unchanged during March (0.0%). Vehicles in this segment include the Buick Encore and Nissan Juke. Sub-Compact Crossovers ended March with an average segment price of $12,218, the same price the segment saw at end of February.
Full-Size Cars increased +0.7% in value during March, the best-performing segment during the month. In February, Full-Size Cars had an average segment price of $12,674. The segment finished March with an average price of $12,768. Vehicles in this segment include the Chevrolet Impala, Dodge Charger, Ford Taurus, Chrysler 300, Nissan Maxima and Toyota Avalon.
Sporty Cars also saw and increase (+0.6%) in segment value during March. The segment’s average price increased from $13,818 in February to $13,989 in March. Vehicles in this segment include the Ford Mustang, Chevrolet Camaro, Mini Cooper, Dodge Challenger and BMW 1-Series.
Compact Cars also saw and increase (+0.6%) in segment value during March. The segment’s average price increased from $8,202 in February to $8,247 in March. Vehicles in this segment include the Honda Civic, Mazda3, Ford Focus, Chevrolet Cruze and Hyundai Elantra.
“While this is the time of year when values see noticeable strength, it’s very apparent that this year’s spring market isn’t as strong as it has been the last few years,” said Anil Goyal, Senior Vice President of Automotive Valuation and Analytics for Black Book. “More than ever, it’s important for dealers and remarketers to pay close attention to the data to spot the trends that can shape their inventory strategies for the remainder of the year.”
Here is the complete breakdown of Black Book-recorded March value changes of used vehicles (2010-2014):
| 4/1/2015 | 3/1/2016 | 1M Chg | 4/1/2016 | 12M Chg | ||
| Category | Seg | $ | $ | % | $ | % |
| All Vehicles | 17,385 | 14,656 | -0.90% | 14,522 | -16.50% | |
| Car | 14429 | 11509 | -0.40% | 11468 | -20.50% | |
| Truck | 20779 | 18270 | -1.30% | 18029 | -13.20% | |
| Domestic Car | 12856 | 10271 | 0.60% | 10331 | -19.60% | |
| Domestic Truck | 20620 | 18221 | -1.60% | 17935 | -13.00% | |
| Import Car | 15319 | 12209 | -0.80% | 12111 | -20.90% | |
| Import Truck | 21033 | 18347 | -0.90% | 18179 | -13.60% | |
| Compact Luxury CUV/SUV | LCU | 25925 | 22345 | -2.20% | 21849 | -15.70% |
| Full-Size Van | FSV | 21573 | 19474 | -2.20% | 19042 | -11.70% |
| Luxury Car | LLC | 26279 | 21162 | -2.10% | 20726 | -21.10% |
| Prestige Luxury Car | PLC | 43539 | 36282 | -2.00% | 35555 | -18.30% |
| Compact Crossover/SUV | CSU | 15342 | 12978 | -1.70% | 12758 | -16.80% |
| Compact Van | MVC | 12903 | 10005 | -1.60% | 9845 | -23.70% |
| Full-Size Pickup | FPT | 24379 | 22502 | -1.50% | 22161 | -9.10% |
| Full-Size Crossover/SUV | FSU | 26211 | 24854 | -1.40% | 24516 | -6.50% |
| Full-Size Luxury CUV/SUV | LFU | 38603 | 33321 | -1.30% | 32879 | -14.80% |
| Mid-Size Luxury CUV/SUV | LMU | 27599 | 23242 | -1.30% | 22948 | -16.90% |
| Sub-Compact Car | SBC | 9321 | 6946 | -1.20% | 6863 | -26.40% |
| Near Luxury Car | NLC | 20808 | 16799 | -1.10% | 16620 | -20.10% |
| Minivan | MVW | 18350 | 15393 | -1.10% | 15217 | -17.10% |
| Premium Sporty Car | PSC | 48870 | 42262 | -1.00% | 41819 | -14.40% |
| Mid-Size Crossover/SUV | MSU | 19211 | 16533 | -0.80% | 16400 | -14.60% |
| Mid-Size Car | MSC | 12017 | 9595 | -0.20% | 9580 | -20.30% |
| Small Pickup | SPT | 19661 | 18392 | -0.10% | 18369 | -6.60% |
| Sub-Compact Luxury CUV | LXU | 20551 | 16841 | -0.10% | 16818 | -18.20% |
| Sub-Compact Crossover | SXU | 14608 | 12213 | 0.00% | 12218 | -16.40% |
| Compact Car | CPC | 10605 | 8202 | 0.60% | 8247 | -22.20% |
| Sporty Car | SPC | 17221 | 13818 | 0.60% | 13898 | -19.30% |
| Full-Size Car | FSC | 15488 | 12674 | 0.70% | 12768 | -17.60% |
About Black Book
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