Black Book determined full-year vehicle depreciation for 2017 didn’t quite reach the level editors saw for the previous year.
According to Black Book data, the average price of a used vehicle for model years 2012 through 2016 depreciated in value by 2.9 percent during the close month of 2017.
Editors indicated overall cars values dropped 3.0 percent and overall truck readings decreased 2.8 percent in value during December. That activity left all vehicles averaging a 12-month depreciation of 13.2 percent during 2017, compared to 17.3 percent in 2016, according to Black Book.
Two vehicle segments tied for the lowest depreciation during December. Editors found that 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. Black Book pointed out that units 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. Black Book added that full-size vans ended December with an average segment value of $17,311.
Black Book went on to mention sub-compact luxury CUVs saw the largest depreciation during December, falling by 4.8 percent. 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 decline from year-earlier levels ($18,496).
Furthermore, Black Book added that 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 vehicle group is currently 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 at Black Book.
“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,” Goyal went on to say.