Used vehicles held more of their value last month
The finding is contrasted by a long-term metric analysts recorded: While monthly depreciation was higher, May's performance was better than expected and improved over the 2.7 percent average decline captured the past four years.
As a result of the past month's performance, NADA Used Car Guide's seasonally adjusted used vehicle price index rose by 0.7 percent to 119.1, notching the first increase recorded since November of 2015.
Prices of used mainstream cars continued to fall at industry-high rates. Compact car depreciation was the segment loss leader; it reached 3 percent.
Mainstream compact utility prices fell at an above average rate (2.5 percent, nearly 1.5-percentage points worse than April's decline) due to pressure from a growing pool of supply and higher new vehicle incentives.
Following a somewhat soft start to the year, mid-size and large pickup prices returned to form over the past two months by dipping to a combined average of just 0.4 percent.
On the luxury side of the market, all premium segments outperformed their mainstream counterparts.
Luxury compact utility prices declined the most of the group, slipping by 2.1 percent; losses for remaining luxury segments averaged just 1.2 percent. ■