Used-vehicle depreciation improved toward the end of 2013 with vehicles depreciating 12.8 percent during the year, a slight pullback from the 12.4 percent rate in the prior year, reports Black Book.
Depreciation rates steadily improved from October's rate of 2.1 percent. Vehicles depreciated 1.7 percent in November and 1.4 percent in December, which is in line with pre-recession depreciation.
For the full year, full-size pickups led the way by depreciating only 5.8 percent. They commanded an average price of $23,269 in 2013. Other categories that handily beat the 2013 average included mid-size pickups (6.4 percent), compact SUVs (6.7 percent), compact pickups (8.1 percent), and full-size SUVs (8.3 percent).
"Truck segments had a strong year overall, but saw more retention turbulence in December," said Ricky Beggs, editorial director and senior vice president of Black Book.
With gasoline prices in check, used-vehicle buyers are gravitating toward larger, light-duty vehicles and shying away from luxury cars and full-size CUVs, which registered the sharpest declines in value.
The full-size CUV category depreciated by 16.9 percent in 2013, which includes such vehicles as the GMC Arcadia, Buick Enclave, Ford Flex, Lincoln MKT, Audi Q7, Cadillac SRX, and Chevrolet Traverse. Full-size CUVs commanded an average price of $19,941 during the year.
In December, domestic trucks depreciated 2 percent and import trucks 1 percent. Black Book tracks sales of vehicles from the 2008-2012 model-years.