LAWRENCEVILLE, Ga.–All those trucks consumers have been buying in recent years are starting to put a bigger dent in the resale values of these vehicles.
The truck segment, which for years has shown the strongest resale values among all vehicle segments, is showing signs of increasing depreciation, Black Book reports.
"Clearly, the sales success and consumer demand that trucks have enjoyed over the last few years will eventually catch up and we're beginning to feel some of this tide turning in 2016," said Anil Goyal, senior vice president of automotive valuation and analytics for Black Book. "We're beginning to see more of this volume return to the wholesale market, which is placing pressure on truck retention strength."
Year to date, all truck segments have performed worse in comparison to the same time last year in value retention. The best performing segment with lowest depreciation this year to date is the full-size crossover/SUV, which has dropped 0.20% year-to-date 2016 compared to -0.12% the same time last year.
Some of the worst-performing truck segments in 2016 versus same time 2015:
- Full-size pickup (-0.35% in 2016 vs. +0.02% in 2015)
- Small pickups (-0.28% in 2016 vs. -0.04% in 2015)