Black Book recently shared its latest analysis that shed light on exactly how much of an impact the spring market generated this year.
According to Black Book data, the average price of a used vehicle for model years 2012 through 2016 increased in value by 0.3 percent during April, fueled by a strong spring selling season for cars.
Editors indicated car values ticked up 1.3 percent during the month while trucks saw a decrease of 0.4 percent.
Black Book added that all vehicles are averaging a 12-month softening of 15.1 percent.
A total of nine vehicle segments increased in overall value during spring, according to Black Book, including five car segments. Leading the way were midsize and compact cars, which each rose 2.5 percent in April.
Vehicles in midsize car segment include the Nissan Altima, Chrysler 200, Honda Accord, Ford Fusion, Toyota Camry, Chevrolet Malibu, Kia Optima and the Hyundai Sonata. Vehicles in this segment finished April with an average price of $9,732, which settled 15.5 percent lower than a year ago.
Vehicles in the compact car segment include the Chevrolet Cruze, Ford Focus, Honda Civic, Toyota Corolla, Volkswagen Jetta, Nissan Sentra and the Hyundai Elantra. Vehicles in this segment wrapped up April with an average price of $8,210; a figure down 13.7 percent from a year ago.
Black Book pointed out that sub-compact crossovers saw the largest boost for trucks, jumping 1.5 percent in April.
Vehicles in sub-compact crossover segment include the Buick Encore, Nissan Juke, Chevrolet Trax, Honda HR-V and the Jeep Renegade. Vehicles in this segment finished April with an average price of $11,652, representing a 15.6 percent drop from year-ago levels.
Editors noticed the other segments seeing increases in April included the full-size car (up 1.0 percent), compact crossover/SUV (up 0.5 percent), sub-compact car (up 0.5 percent), compact van (up 0.3 percent) and small pickup (up 0.1 percent).
Black Book also mentioned the two segments that saw the highest depreciation on the month included the full-size crossover/SUV, and midsize luxury CUV/SUV, each declining by 1.5 percent.
Vehicles in the full-size crossover/SUV segment include the Chevrolet Tahoe, Chevrolet Suburban, Dodge Durango, Ford Expedition, GMC Yukon, Toyota Sequoia and the Nissan Armada.
Vehicles in the midsize luxury CUV/SUV segment include the Lexus RX 350, Acura MDX, BMW X5, Buick Enclave, Infiniti QX60, Mercedes Benz M Class and the Lincoln MKX.
“The above-average strength of the spring season was on full display during April, with a total of nine vehicle segments showing an increase in value,” said Anil Goyal, executive vice president of operations at Black Book.
“What’s impressive most in April is that five of these segments were cars, so it will be interesting to see what the remaining of the year holds for these segments as we return to more typical seasonal depreciation patterns for vehicles overall,” Goyal continued.