The average price of a used vehicle for model years 2011-15 depreciated by 2.3 percent in November, according to Black Book.
This is in line with the guide’s expectations at this time of the year. In comparison, the depreciation rate in October was 2.9 percent and, in November 2015, was 2.8 percent.
Cars overall saw lower retention in November, ending the month down 2.6 percent compared with 3.2 percent in October. All vehicles are currently averaging a 12-month depreciation change of 16.6 percent.
In November, subcompact luxury CUVs saw the biggest drop in value at 3.8 percent. Vehicles in the compact car segment finished October averaging $18,349, a 22.8 percent decline from a year ago ($23,783).
Full-size luxury CUV/SUVs and full-size pickups saw the strongest retention in value, dropping only 1.5 percent from the previous month. In another sign of accelerated depreciation, the 12-month average depreciation for all car segments a year ago was 16.6 percent, compared with 19.1 percent for this year entering December. However, the real story is trucks, which showed depreciation of 14.7 percent this year, compared with 8 percent a year ago.