The truck segment saw substantial depreciation across all segments in November.
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November was marked by notable price fluctuations in the wholesale market, as the six-week auto workers’ strike ended, Black Book’s November Market Insights report indicates.
The truck segment initially declined, followed by a correction phase and substantial depreciation across segments, with some experiencing record declines, according to the report. Black Book said it’s uncertain how long the declines will last and if the market has hit bottom.
The car segment consistently dropped in wholesale prices from 0.53% to 1.35%. Both 0- to-2-year-old and 8- to-16-year-old car segments saw significant declines, ranging from -0.96% to -1.05%, the report noted. Data shows all nine car segments reported weekly declines, some exceeding 1%. Full-size cars and subcompact car had the largest declines at 2.33% and 2.12%. By contrast, the premium sporty car segment showed stability, decreasing by just 0.25% over the past six weeks, with a weekly average decline of 0.20%.
The truck/SUV segment experienced substantial wholesale price drops, from 0.63% to 1.53%, according to the report. Here, newer and older models both experienced declines ranging from 1.36% to 1.77%. All 13 segments experienced weekly declines, compact vans leading at a record-breaking 5.48% drop. Full-size vans experienced a drop of 3.64%, while full-size pickups saw the largest single-week decline ever at 2.79%.
