According to Black Book® data, the average price of a used vehicle for model years 2010-2014 declined -2.6% during October, a significant increase from the -1.5% pace during September. Cars declined -3.3% while trucks declined just -2.0% during the month. Average pre-recession annual depreciation was continually recorded between -15% and -18%, and Black Book expects 2015 depreciation near -13.0%.

Cargo mini vans led all vehicle segments with the highest depreciation on the month at -5.0%. Vehicles in this segment include the Chevrolet HHR, Chevrolet Uplander, Dodge Grand Caravan, and Ford Transit Connect. Vehicles in this segment finished October with an average segment price of $7,530, a -16.3% drop from a year ago ($10,739).

Full-Size Cargo Vans led all segments with the lowest depreciation on the month at -1.0%.  Full-Size Cargo Vans include the Ford Transit Commercial, Mercedes-Benz 2500 Sprinter Vans, Ram Promaster Vans and the GMC Commercial Vans. Vehicles in this segment finished the month with an average price of $19,608, a -3.7% drop from year-ago levels ($20,379).
   
“As expected, we’re seeing some of the highest depreciation levels of the year driven largely by lowered demand at wholesale auctions around the country,” said Anil Goyal, Vice President of Automotive Valuation and Analytics for Black Book. “We believe this trends will continue through the end of the year and we should finish 2015 with overall depreciation nearing -14.0%. It’s important to note that this is still slightly lower than what the industry experienced prior to the recession.”

Black Book® is best known in the automotive industry for providing timely, independent and accurate vehicle pricing information, and is available to industry-qualified users through online subscription products, mobile applications and licensing agreements. A leading provider since 1955, Black Book has continuously evolved to ensure that it achieves its goal of delivering mission-critical information to its customers, along with the insight necessary to successfully buy, sell, and lend. Black Book data is published daily by National Auto Research, a division of Hearst Business media, and the company maintains offices in Georgia, Florida, and Maryland as well as the Canadian Black Book in Toronto.