According to Black Book data, used vehicles model years 2008-2012 overall depreciated -1.4% in December, slightly better retention compared to the -1.7% rate in November. Domestic cars depreciated -1.6%; import cars were -1.3%; domestic trucks were -2.0%; and import trucks were -1.0%. Average pre-recession depreciation is historically between -1% and -2% monthly.
For all of 2013, total vehicle depreciation was -12.8%, a marginal slide from the -12.4% depreciation in 2012.
Compact SUVs led all segments with the strongest monthly retention at 0.1%, the only segment to finish with a positive change. The best-performing car segment was the Full-Size Cars at -0.8%.
Compact SUVs finished December with an average wholesale value of $16,248, a -6.7% change from year-ago levels ($17,418). Vehicles in this segment include the Jeep Wrangler and Nissan Xterra.
Full-Size Cars finished December with an average wholesale value of $12,715, a -15.4% change from year-ago levels ($15,029). Vehicles in this segment include the Chrysler 300, Toyota Avalon, Chevrolet Impala, Buick Lucerne, Nissan Maxima, and Ford Taurus.
Full-Size CUVs led all segments on the decline with a -3.3% depreciation during December. The average wholesale price for this segment finished at $19,941, a -16.9% change from year-ago levels ($24,004). Vehicles in this segment include the GMC Acadia, Buick Enclave, Ford Flex, Lincoln MKT, Audi Q7, Cadillac SRX, Chevrolet Traverse.
After having strong retention for most of the year, the six segments with the weakest retention during December were all trucks: Full-Size CUV (-3.3%); Mini-Van Cargo (-2.4%); Mid-Size SUV (-2.3%); Full-Size Passenger Vans (-2.3%); Passenger Mini Vans (-2.3%); and Full-Size Cargo Vans (-2.1%).
“Truck segments had a strong year overall but saw more retention turbulence in December,” said Ricky Beggs, Editorial Director at Black Book. “While new-car sales brought more trades back into the market, a large number of older-model trade-ins kept later models’ wholesale demand strong for dealers to replenish inventories at wholesale.”
