According to Black Book data, the average price of a used vehicle for model years 2009–2013 overall saw larger depreciation in June compared with the previous two months, signaling typical summertime patterns. Average segment prices saw -1.0% depreciation in June compared with May levels of -0.4%.
“The annual depreciation patterns typically see larger value changes in the second half of each year, and we’ve seen this begin to pick up the pace over the last 45–60 days,” said Ricky Beggs, Editorial Director at Black Book. “We will keep a watchful eye on how gas prices and the new model year impact this pace of depreciation as we head through the summer months.”
• Domestic cars changed -2.0%; import cars changed -1.4%; domestic trucks changed -0.5%; and import trucks changed -0.8%. Average pre-recession depreciation is historically between -1% and -2% monthly, and Black Book expects overall 2014 depreciation of -13.5%.
• Mid-Size Pickups led all segments with the strongest monthly retention at +1.1%, followed by Cargo Minivans at +0.5%. Mid-Size Pickups include the GMC Canyon, Chevrolet Colorado, Dodge Dakota and Honda Ridgeline. The average segment price at the end of June was $17,758, a -6.3% change from year-ago levels ($18,952).
• Premium Sporty Cars led all car segments with the lowest depreciation change at -0.6% on the month, and the only car segment in the top-12 for segment depreciation performance. Vehicles in this segment include the BMW 6-Series, Mercedes-Benz CL-Class, Chevrolet Corvette, Nissan GT-R, Mercedes-Benz SL-Class and Cadillac XLR. The average segment price at the end of June was $49,136, a -12.3% change from year ago levels ($56,048).
• Entry Mid-Size Cars led all segments with the highest depreciation at -2.7% during June. Vehicles in this segment include Ford Fusion, Volkswagen Jetta, Chevrolet Malibu, Toyota Prius, Buick Regal and Chevrolet Volt. The average segment price at the end of June was $12,539, a -11.4% change from year-ago levels ($14,155).
•Compact Crossovers and Passenger Minivans led all truck segments with the largest depreciation in June (-1.4%). Vehicles in the Compact Crossover segment include the Honda CR-V, Mazda CX-7, Ford Escape, Jeep Patriot, Toyota Rav4 and Nissan Rogue. The average segment price at the end of June was $14,968, a -10.9% change from year-ago levels ($16,808).
• Only three of the twenty-four total car and truck segments finished the month with a positive value change: Mid-Size Pickups (+1.1%); Cargo Minivans (+0.5%); and Full-Size Pickups (+0.1%).
• Six vehicle segments, all cars, had a monthly depreciation change higher than -1.5%, compared with none at this rate in May: Entry Mid-Size Cars (-2.7%); Compact Cars (-2.5%); Full-Size Cars (-2.4%); Upper Mid-Size Cars (-1.8%); Entry-Level Cars (-1.8%); and Sporty Cars (-1.6%).