Wholesale prices fell by almost 2 percent on a monthly basis in August, and depreciation is expected to ramp up even more this month.

According to the latest Guidelines report from NADA Used Car Guide, prices fell at auction by 1.9 percent last month.

And looking forward to the end of September, NADA UCG forecasts prices of vehicles up to eight years old will fall by 2.5 to 3 percent compared to August.

“This year’s anticipated rate of depreciation would be slightly better than the 3.4 percent decline recorded in September 2014, but right on par with the 2.7 percent decline averaged in the two prior years,” NADA Used Car Guide's Johnathan Banks said in the report.

This month, the largest price drops are expected in the midsize van segment, and NADA UCG expects subcompact and compact cars to also see large price declines, as well. Depreciation for these three segments is expected to come closer to the high end of NADA UCG’s forecast.

On the other hand, midsize cars, utilities and pickup price movement is expected to come in on the lower end of the spectrum this month. Banks also pointed out luxury vehicle losses should be more “severe” than their mainstream counterparts.

And the report stated depreciation will continue to ramp up as fall continues, with NADA UCG predicting prices will drop by approximately 3 percent in October.

Taking a look back at August price movement, which saw stronger used price movement than expected over the course of this month, Banks said, “Considering the index is down a mere 0.5 percent year-to-date, used vehicle demand — and thus prices — has remained strong despite higher new vehicle incentives (particularly lease incentives) and an ongoing rise in supply.”

Banks pointed out the market continues to favor trucks, while car prices continue to drop.

In August, subcompact cars took what Banks called a “nosedive”, dropping by 3.4 percent for the largest decline seen last month.

Prices for this segment have dropped by a whopping 14.6 percent this year, which is beat out only by the luxury large car decline of 16.2 percent.

“A burgeoning supply of subcompact cars at auction isn’t helping matters for the low demand segment. Supply for the group has grown by more than 30,000 units over the year, up nearly 60 percent from 2014,” Banks said, providing background for the significant price declines in the lanes.

Compact and midsize cars saw slightly stronger price retention last month with a combined 2.4 percent average drop. Large car depreciation was just under 2 percent.

For trucks, “losses were roughly half those of cars last month,” Banks said.

For example, midsize pickup, large pickup and mid-size utility depreciation averaged 1 percent.

Year-to-date, midsize pickup prices have only fallen by 3.1 percent, while large pickups have seen a decline of just 4 percent.

Compact utilities saw a slightly larger drop with a decline of 1.7 percent last month, while large SUV prices stayed flat. Midsize vans dropped by just 1.2 percent last month, but that number is expected to ramp up in September.

For those interested in price movement for 1- to 3-year-old used vehicles, specifically, KBB’s latest Blue Book Market Report broke down the numbers. The average vehicle value for younger used vehicles declined by 1.4 percent or $250 in August, according to the report. This is a significantly better performance than movement seen in June and July, when prices dropped by 2.6 percent and 2.2 percent, respectively.