According to Black Book® data, the average price of a used vehicle for model years 2010-2014 declined -1.5% during September, relatively unchanged from the -1.6% pace during August. Cars declined -2.3% while trucks declined just -1.0% during the month. Average pre-recession annual depreciation was continually recorded between -15% and -18%, and Black Book expects 2015 depreciation near -14.0%.
Compact Cars led all vehicle segments with the highest depreciation on the month at -3.7%. Compact Cars include the Buick Verano, Chevrolet Cobalt, Chevrolet Cruze, Dodge Caliber, Dodge Dart, Ford C-Max, and the Ford Focus. Vehicles in this segment finished September with an average segment price of $8,923, a -16.9% drop from a year ago ($10,739).
Full-Size SUVs and Full-Size Passenger Vans led all segments with the lowest depreciation on the month at -0.5% each. Full-Size SUVs include the Chevrolet Suburban, Chevrolet Tahoe, Chrysler Aspen, Dodge Durango, and Ford Expedition. Vehicles in this segment finished the month with an average price of $26,512, a -3.7% drop from year-ago levels ($27,530).
Compact Pickups have the lowest 12-month moving depreciation average at just -2.9%, a lower price drop than what Compact Cars have experienced in just the last 30 days.
Premium Sporty Cars led all car segments with the lowest depreciation at -1.2% on the month. Vehicles in this segment include the Audi R8, BMW 6 Series, Cadillac XLR, Dodge Viper, and the Mercedes-Benz CL Class. Vehicles in this segment finished the month with an average segment price of $43,253, a -14.2% change from a year ago ($50,387).
“Overall vehicle depreciation continues to hold up well, especially as we near the part of the year where heavier price drops are typically expected,” said Anil Goyal, Vice President of Automotive Valuation and Analytics for Black Book. “It’s very telling of the disparity between cars and trucks to see that we have some truck segments showing lower annual depreciation than what cars are seeing on a monthly level.”
Black Book® is best known in the automotive industry for providing timely, independent and accurate vehicle pricing information, and is available to industry-qualified users through online subscription products, mobile applications and licensing agreements. A leading provider since 1955, Black Book has continuously evolved to ensure that it achieves its goal of delivering mission-critical information to its customers, along with the insight necessary to successfully buy, sell, and lend. Black Book data is published daily by National Auto Research, a division of Hearst Business media, and the company maintains offices in Georgia, Florida, and Maryland as well as the Canadian Black Book in Toronto.