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After finishing the month up by 2.3% in March, wholesale prices for used vehicles up to eight years have fallen by 1.3% through the first three weeks in April. So far, April’s loss is a slight improvement over the 1.5% decline averaged for the month over the past 10 years (excluding 2011’s rise in prices caused by the Japanese tsunami).

Similar to what we observed in March, depreciation within the luxury large and luxury mid-size car segments is the highest at 1.9% and 1.8%, respectively. This month’s performance is in line with the luxury pairs’ performance during the same period in 2014 when prices for the two fell by 1.5% apiece. On an annual basis, luxury large and luxury mid-size car prices are respectively 3% and 2.4% lower than they were during the same period in 2014. This occurrence makes them the highest depreciating segments of subcompact cars (prices are currently down 5.7% compared to last year) when excluded.

In April, the remaining luxury segments have fared better so far. Luxury compact and luxury compact utility prices have fallen by 0.9% and 0.7%, while luxury mid-size utilities have seen a barely perceptible 0.1% shaved from prices.

On the mainstream side of the market, mid-size vans and mid-size cars have experienced the biggest losses so far this month; prices for the two have fallen by 1.5% and 1.4%, respectively. The movement recorded for the two this month is very similar to what we saw last April, when mid-size car and mid-size van prices fell by nearly identical figures of 1.5% and 1.4%, respectively.

Small cars have also seen some downward price movement. Subcompact and compact car prices have fallen by 1.3% each, which is not far off of April 2014’s average decline of 1% for the pair. All remaining mainstream segments have seen prices slip by a range of 0.9% – 0.0%.

With a few days of sales left in the month, it’s unlikely we will see a significant departure from these figures. NADA Used Car Guide still expects price erosion this spring and summer. Following the seasonal norm, depreciation is expected to accelerate as the market transitions from spring to summer, with declines reaching around 3% in May and June, then moderating somewhat in July.