LAWRENCEVILLE, Ga. – According to Black Book data, the average price of a used vehicle for model years 2012-2016 depreciated in value by -2.9 percent. Cars overall dropped -3.0 percent and trucks decreased -2.8 percent in value during December. All vehicles averaged a 12-month depreciation of -13.2 percent during 2017, compared to -17.3 percent in 2016.
Two vehicle segments tied for the lowest depreciation during December. Both Small Pickups and Full-Size Vans decreased in value by just -1.7 percent. Vehicles in the Small Pickups segment include the Toyota Tacoma, Chevrolet Colorado, GMC Canyon, Nissan Frontier and the Honda Ridgeline. Vehicles in this category started off the year with an average segment price of $21,262. Vehicles in the Full-Size Van segment include the Ford T150, Ram 1500 Promaster, GMC G1500, Chevrolet G1500, Nissan NV 1500 and the Mercedes Benz Sprinter Vans. Full-Size Vans ended the month with an average segment value of $17,311.
Sub-Compact Luxury CUV saw the largest depreciation during the month, falling by -4.8%. Vehicles in the Sub-Compact Luxury CUV segment include Audi Q3, BMW X1, Mercedes Benz GLA Class, and the Mini Cooper Countryman. Vehicles in this segment finished December with an average price of $14,952, a -19.2 percent change from year ago levels ($18,496).
Prestige Luxury Cars saw the largest decrease in value from year-ago levels. This category dropped -23.4 percent since December of 2016 when the category had an average price of $41,452. Vehicles in this group include the BMW 7-Series, Lexus LS 460, Porsche Panamera, Jaguar XJ, Mercedes Benz S-Class and the Audi A8. This vehicles group is current priced at $31,745.
“Vehicle values ended the year with an easing of depreciation during the month of December,” said Anil Goyal, senior vice president of Automotive Valuation and Analytics. “Between a stronger-than-expected spring selling season that lasted into early summer and the two hurricanes during the fall that required a healthy dose of vehicle replacement activity, we saw lower overall depreciation this year compared with 2016.”
SOURCE: Black Book press release