Despite being a holiday week, the market continued to experience significant declines last week, according to Black Book Market Insights. Auction attendance and sales rates also declined. The Work Vans, Full-Size Luxury SUVs, and Compact Car segments experienced the most significant declines last week, with all three segments depreciating by more than 3% in a single week.

Car Segments
- On a volume-weighted basis, the overall Car segment decreased -1.82%. For reference, in the previous week, cars decreased by -1.35%.
- The 0-to-2-year-old Car segments were down -1.52% and 8-to-16-year-old Cars declined -2.10%.
- All nine Car segments decreased last week, with six of those segments reporting declines greater than 1%.
- Compact Car had the largest decline last week, with a record setting decline for the segment of -3.84%, compared with -1.43% the week prior.
- Sub-Compact Car also had a third week of large declines, depreciating -1.80% last week, compared with -2.12% the previous week.
- The Luxury Car segments were the only segments to have depreciation closer to typical seasonal trends. Near Luxury Car was the only “Luxury” segment to exceed 1%.
Truck / SUV Segments
- The volume-weighted, overall Truck segment decreased -1.35% compared to the depreciation seen the prior week of -1.53%.
- The 0-to-2-year-old models declined -1.01% on average and the 8-to-16-year-olds decreased by -1.37% on average.
- All thirteen Truck segments declined last week. Nine of the thirteen segments had declines greater than 1%.
- Compact (-4.25%) and Full-Size (-3.19%) Vans had incredible strength throughout most of the pandemic but are now in a state of correction. Compact Van has averaged a weekly decline of -3.49% over the past four weeks.
- The Full-Size Crossover segments also had large declines last week, with the mainstream segment declining -1.75% and the Luxury variants declining -3.20%.
- The Compact Crossover (-1.40%) segment reported a fifth consecutive week of a decline exceeding 1%.