Used vehicles depreciated a very moderate -1.3% across all segments during June. However, the Midsize Pickups category saw very limited depreciation, with just a -0.7% monthly change for model years 2007-2011.
The difference in depreciation is even more noticeable when the twelve-month depreciation rate is compared. Used vehicles overall have depreciated -13.7% during the last twelve months. However, mid-sized pickups have seen just a -5.1% change during the same time period. Average prices on mid-sized pickups currently stand at $15,630 compared with year-ago prices of $16,470.
The 2010 model year mid-sized pickups saw particularly low depreciation over the last twelve months, with just a slight change of -3.7% from original prices.
The fan-favorite mid-sized pickups category includes vehicles such as the GMC Canyon and Chevrolet Colorado (which currently are no longer sold as new), Dodge Dakota and Toyota Tacoma, and Honda Ridgeline.
According to Ricky Beggs, mid-sized pickups are showing strong price retention mostly because a lack of model options at new retail have driven up demand for the vehicles. “Manufacturers shifted more production to the full-sized pickups during the last several years because of their profitability, versatility and improved fuel economy, and they have not replenished models that were discontinued.”