Full-Size Trucks, Vans See Record Depreciation

By Staff Writer November 14, 2023

With the UAW strike now fully in our rearview mirror, the market is in a state of correction, particularly in the Truck and SUV segments, where declines for Full-Size Vans and Full-Size Trucks are reporting record level, single week depreciation, according to Black Book’s Weekly Market Insights.

In general, a majority of the segments reported declines exceeding 1% and some even exceeding 2% and 3%.

On a volume-weighted basis, the overall Car segment decreased -1.13%. For reference, in the previous week, cars decreased by -0.57%. The 0-to-2-year-old Car segments were down -0.96% and 8-to-16-year-old Cars declined -0.93%.

All nine Car segments decreased last week with five of those segments reporting declines greater than 1%.

The Full-Size Car segment had the largest decline last week, dropping -1.82%. Last month, the average weekly decline for this segment was only -0.41%.

Sub-Compact Cars continue to have large depreciation with the segment declining -1.51% last week, compared with -0.92% the week prior.

The Premium Sporty Car segment has had minimal declines since earlier this year, but last week the rate of decline increased with the segment depreciating -0.52%. This compares with the average weekly depreciation rate of -0.15% over the last six weeks.

The volume-weighted, overall Truck segment decreased -1.73% compared to the depreciation seen the prior week of –1.12%.

The Used Retail Days-to-Turn estimate is now sitting around 50 days.

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Last modified on Monday, 20 November 2023 12:24