Black Book: Truck Retention Rates Fall Again
LAWRENCEVILLE, Ga. — Wholesale values continued to fall last week, although cars fared better than trucks, according to Black Book. The firm reported that the wholesale value of the overall car segment decreased by 0.57% from the week prior, while the truck segment declined 0.58%.
Sports cars depreciated the most in the car segment, failling 1.2% from the prior week. in the truck category, values of full-size vans fell the most, declining 1.02% from the week prior.
Other weak performers in the car segment included prestige luxury cars and compact cars, which realized wholesale value declines of 0.99% and 0.82%, respectively. In the truck segment, mid-size crossover/SUVs and full-size pickups were among the weakest performers, realizing 0.75% and 0.74% wholesale value drops from the week prior, respectively.
“The truck segments, particularly SUVs and pickups, are beginning to see larger declines after experiencing strong retention so far this year,” said Anil Goyal, senior vice president of automotive valuation and analytics.
Black Book’s report analyzed October retention rates for model-year 2010-2014 full-size pickup trucks, and found that retention for full-size pickups began climbing with the 2010 model year. From that model year forward, retention rates climbed from 56% to a peak of 66% for model-year 2013 full-size pickups. Model-year 2014 full-size pickups — which realized a retention rate of 64% in October and is the most recent model-year the firm analyzed — marked the first model year to realize a decline in retention.
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