J.D. Powers analysts found prices for used trucks remain high as volume levels dropped, while retail prices continue to hold steady as well.
Used vehicle prices experienced a reversal in May, falling 1.2% from the previous month, according to Black Book.
Industry experts say a glut of used trucks remains on the market and, in extreme cases, some fleets actually owe more for equipment than it is now worth on the secondary market.
Small pickups performed the best in February, according to Black Book, increasing their value by 0.2%. Vehicles in the small pickups segment include the Toyota Tacoma, Chevrolet Colorado, Nissan Frontier, and Honda Ridgeline.
Small and large pickups were among the top performing segments in January with a 1.1% depreciation rate among two- to six-year-old vehicles sold in auction lanes, according to Black Book.
So far in 2016, auction prices have decreased less than 3% per month compared to nearly 5% per month in the second half of 2015.
In May, average wholesale values fell relative to April, though they remain up on a year-over-year basis largely because of the price strength of trucks, according to ADESA.
Used vehicle values from the 2010 to 2014 model years fell 0.5% in May from April levels with cars showing a slightly higher depreciation rate than trucks, according to Black Book.
Rising used vehicle depreciation pulled average April values into the red in a month that's typically the last strong month of the spring season, according to Black Book.
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