With gas prices low, and many consumers turning toward larger vehicles, the compact and subcompact segments suffered some pretty significant depreciation in 2015. But as we approach tax season, the early spring period is bringing with it a strengthening in values for many of these segments.

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

“The subcompact car segment started to show strength with tax season approaching. In addition, most crossover/SUV segments remain relatively strong,” said Anil Goyal, senior vice president, operations at Black Book.

Overall car values dropped by 0.47 percent or $47 last week, which is close to the average depreciation rate of 0.44 percent seen over the prior eight weeks, while the truck segments dropped by just 0.20 percent or $30. For the trucks, this number is significantly lower than the average rate of decline of 0.49 percent seen over the previous two months.

Among the car segments, all declined in value, except for the aforementioned subcompact's upward movement. The midsize car segment has the largest change of the week with a decline in price of 0.69 percent or $59. This segment was followed by the full-size cars, which saw prices drop by 0.60 percent or $55.

Among the truck segments, Black Book editors said that industry professional need to take a close look at trends surrounding the subcompact crossover segment. Interestingly, full-size crossover/SUV and compact van segments were on the way up last week in terms of price, but the subcompact crossover segment experienced a drop of 2.4 percent or $258.

This, too, could be related to gas prices, as average fuel prices sit around $2 per gallon, consumers are willing to shell out more for a full-size SUV. The full-size/crossover SUV segment saw prices rise by 0.19 percent or $33 last week.

According to Black Book, the average price of a used-vehicle for model years 2010-2014 dropped 1.6 percent last month, and full-size SUVs continued to lead all the segments with the strongest price retention in January, with rates dropping by just 0.3 percent.  

On the other side of the spectrum was this trend:  For the second month in a row, subcompact luxury CUVs saw the highest depreciation last month with vehicles dropping by 4 percent. The segment ended the month with an average price of $17,314, which is down 21 percent from January 2015.

 “For the third straight month we have seen the lowest depreciation of all segments in full-size crossover/SUVs,” said Goyal.  “This trend, combined with continued low gas prices, is a sign that larger vehicles may continue to demonstrate relative strength in their value throughout this year.”

Save a few outliers, it seems tax season is beginning to push value strength at auction, and dealers are feeling the impact in the lanes.

Black Book editors overheard an auction attendee from Arizona say last week, “A very good sale here today with prices holding strong on many segments,” while another buyer from Pennsylvania stated, “Really good sale here today with around a 70 percent sales rate.”