LAWRENCEVILLE, Ga.—The average price of a used vehicle for model years 2010-2014 declined 1.8% during December, 2015, according to Black Book.
Cars declined 2% while trucks declined 1.7% during the month.
Average pre-recession annual depreciation was continually recorded between 15% and 18%, and Black Book expects 2016 depreciation near 14%. Trucks finished 2015 with a 12-month depreciation of 9.2% while cars came in at 18.2%.
In recent years trucks have held their value much better than cars, a trend that is only becoming more pronounced, said Black Book.
“One thing to watch is the discrepancy in depreciation patterns between car and truck segments, as this gap is widening,” said Anil Goyal, vice president of automotive valuation and analytics for Black Book.
Sub-compact luxury CUV’s led all vehicle segments with the highest depreciation on the month at 6.0%. Vehicles in this segment entered January with an average segment price of $18,039, a 20% drop from a year ago ($22,553).
Three vehicle segments saw a monthly depreciation of 3.2% or greater, the sub-compact luxury CUV’s, sub-compact crossovers and the compact vans. These vehicles finished the month with an average segment price of $10,478, a 22.6% drop from January of 2015 ($13,535).
Full-size pickups led all segments with the lowest depreciation at 0.5%. Vehicles in this segment began January with an average segment price of $23,379, a -1.7% change from a year ago ($23,786).
“Entering 2016, a record year for car sales totaling more than 17 million vehicles, the decrease in used car prices that we are seeing are showing a still-stable used-vehicle market,” said Goyal.