As the industry gears up for the early-spring selling season, depreciation is slowing down, per historical trends.

According to the latest Guidelines report from NADA Used Car Guide, wholesale vehicles prices were flat in January, falling by only 0.1 percent from December.

That said, while the change was slight, January’s decline was slightly worse than the 0.3-percent rise averaged over the past five years.

As for what NADA UCG expects to happen this year, used prices are expected to rise by an average of 1 percent in February and then by an additional 2 to 2.5 percent in March. This month, mainstream segment prices are expected to rise from 1 to 1.5 percent, while luxury segment prices should remain essentially unchanged.

In January, NADA UCG’s seasonally adjusted used vehicles prices index fell, dropping by 0.3 percent month-over-month to 122.2. For comparison, the index was at 125.4 last January, which is 2.6 percent above this past month’s numbers.

“Typical for January, luxury segment depreciation led the industry, while mainstream losses were mild,” Jonathan Banks, executive automotive analyst at NADA UCG, said in the report.

Luxury large cars led the pack with the biggest depreciation rate, with prices down by 3.2 percent. Banks pointed out this depreciation outpaces the segment’s previous five-year average of 2.4-percent depreciation.

“Losses across other luxury segments were more in line with what is typically seen this time of the year, however, the group’s collective 1.6-percent drop was slightly more aggressive than the 1-percent decline averaged since 2011,” he shared.

Taking a look at mainstream vehicles, subcompact car prices saw the biggest price drops one again with prices falling by 0.8 percent

“Prices for the segment are typically flat-to-up (slightly) during January,” Banks said.

This segment might be making a comeback as we move into early spring, according to Black Book data.

According to the latest Black Book Market Insights report, the subcompact cars even saw prices increase last week, with rates rising by 0.03 percent or $2. This was the only car segment to see any increase last week in the lanes.

Moving on to highlight truck price movement reported in the latest Guidelines issue, large pickup and compact utility prices dropped by 0.6 percent and 0.4 percent, respectively, which the report said is normal for the first month of the year.

Price drops for the remaining segments in January were less than 0.5 percent, according to NADA UCG data, except for one: midsize pickups actually saw a 0.5-percent spike in prices last month.