LAWRENCEVILLE, Ga.—Low gas prices are propping up the values of used trucks and full-size SUVs, according to Black Book.
Trucks, which have outperformed all other car segments in used values in the last four years, are now joined by SUVs, reported Black Book.
Full-size crossover/SUVs led all vehicle segments in January with the lowest depreciation at 0.3%. Vehicles in this segment finished January with an average segment price of $25,063, a -1.7% change from a year ago ($25,508).
“For the third straight month we have seen the lowest depreciation (0.3%) of all segments in full-size crossover /SUVs,” said Anil Goyal, senior vice president, operations for Black Book. “This trend, combined with continued low gas prices, is a sign that larger vehicles may continue to demonstrate relative strength in their value throughout this year.”
Truck values declined 1.5% during the month compared with 1.7% for cars. Overall, the average price of a used vehicle for model years 2010-2014 declined 1.6% during January.
For the second straight month, sub-compact luxury CUV’s led all vehicle segments with the highest depreciation on the month at 4.%. Vehicles in this segment entered February with an average segment price of $17,314, a 21% drop from a year ago ($21,963).
Two vehicle segments saw a monthly depreciation of 3.2% or greater, the sub-compact luxury CUV’s, and the compact vans (3.6%). These vehicles finished the month with an average segment price of $10,101, a 22.8% drop from 2015 ($13,090).