According to a new study by Black Book, the fact that there are fewer mid-sized pickup truck options on the market is driving up the retail cost of used models. During the month of June, used vehicles from model years 2007-2011 depreciated an average of 1.3 percent across the board, but midsize pickups of the same year saw their value decrease by just 0.7 percent on average. Look across the past year, and the market as a whole saw those cars depreciate by 13.7 percent while midsize pickups saw their value decline by a mere 5.1 percent.

Ricky Beggs, senior vice president and Managing Editor with Black Book, says midsize pickups are holding their value better than other products on the market due to the fact that there are so few brand-new options available. Currently, only Chevrolet, Nissan and Toyota offer midsize pickup trucks. Honda has a player in the game in the form of the Ridgeline, which is a sort of cross between a traditional pickup and a crossover, and the discontinued Ford Ranger falls into a smaller size class that no longer exists in the US.

What's all this mean to you? If you happen to have a set of keys to midsize pickup in your pocket, you've made a good investment. Don't expect to see the machine depreciate as quickly as other vehicles on the road. Conversely, if you're in the market, expect to pay a bit more than you might have expected for a non-fullsize pickup truck. Scroll down for the press release from Black Book.
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Lack Of New Model Options Drives Used MidSize Pickup Prices

Used vehicles depreciated a very moderate -1.3 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 change during the same time period. Average prices on Midsize Pickups currently stand at $15,630 compared with year-ago prices of $16,470.

The 2010 model year Midsize Pickups saw particularly low depreciation over the last twelve months, with just a slight change of -3.7% from original prices.

The fan-favorite Midsize Pickups category includes vehicles such as the GMC Canyon and Chevrolet Colorado (which currently are no longer sold as new), Dodge Dakota and Honda Ridgeline.

According to Ricky Beggs, Midsize 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 Fullsize Pickups during the last several years because of their profitability, versatility and improved fuel economy, and they have not replenished models that were discontinued."

Here is the complete breakdown of value changes of used cars and Midsize Pickups (2007-2011):

Vehicle 7/1/12 6/1/13 1M Chg 7/1/13 3M Chg 12M Chg
5-Year Average Used $20,428 $17,874 -1.3 -13.7%
5-Year Average MPT $16,470 $15,733 -0.7 -5.1%
2011 Model Year MPT $21,088 $20,256 -0.3 -4.3%
2010 Model Year MPT $19,355 $18,745 -0.5 -3.7%
2009 Model Year MPT $16,579 $15,717 -0.6 -5.8%
2008 Model Year MPT $14,604 $13,888 -0.9 -5.8%
2007 Model Year MPT $12,746 $12,071 -1.0 -6.2%

About Black Book
In business since 1955, Black Book is a provider of accurate pricing insight, mobile solutions and online vehicle trade-in valuation for the automotive industry. The company offers the industry's most accurate vehicle valuation insight to dealers, lenders, remarketers and government agencies. Black Book also provides automotive shoppers with instant and accurate credit-score estimates and trade-in appraisals, which provide the highest quality sales leads for dealers. Click here to view Ricky Beggs' weekly video series offering the latest insight in the auto market http://ow.ly/aHFD6. Follow Ricky on Twitter @BeggsBlackBook (https://twitter.com/beggsblackbook) and on Facebook http://www.facebook.com/blackbookUSA.


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    • 1 Second Ago
  • 73 Comments
      • 1 Year Ago
      [blocked]
        Jerry
        • 1 Year Ago
        Yeah it was designed for and by Brazil. Not that this is a bad thing, but when it started production down there, it was on par with a 1996 Ranger. They are working to upgrade the thing (AKA completely redesign) the thing for our market, but that is still a ways out.
      Thunderpants
      • 1 Year Ago
      Jeep needs to make the pickup truck that they have been teasing us with forever! It would be the perfect time to do it. I would be the first in line if it looked exactly like the J12 concept.
      RonMcCord
      • 1 Year Ago
      The 1st gen tacoma discontinued by 2004 is the perfect size and look. Anything bigger is too big. Look at resale for well maintained low mileage models its outrageous very little depreciation. The new Tacoma looks huge, if I had to buy one I would go Nissan Frontier, no plastic exterior like Yota, better pricing, more hp, 205 inch crew cab length, disc brakes vs drum on the yota on the rear. The Frontier in Pro-4x trim in the steel mettalic blue is one hot looking truck and ready to go stock.
        jtav2002
        • 1 Year Ago
        @RonMcCord
        More HP looks good on paper but it doesn't make the Frontier any faster or tow more. Granted the Taco should have the 270hp version of the 4.0 that everything else using a 4.0 gets, but that's besides the point.
      Thipps
      • 1 Year Ago
      just sold my GMC canyon because the value was so high... already miss that little truck
      dukeisduke
      • 1 Year Ago
      I bought a '13 Tacoma because the prices for three- or four-year-old ones were almost the same, plus the new one came with just four miles on the odometer, and a full warranty.
        jtav2002
        • 1 Year Ago
        @dukeisduke
        That's how it was when I bought my new Tacoma in 2009. Saw how much used ones were going for so just went new. Just traded it in a couple months ago for a 2013 Tundra. Got $20,000 for a trade in and I only paid $28,000 new 4 years ago. Very good resale. Could have gotten more selling it privately too. Whereas I've had other vehicles lose over half their value in only 2 years.
      muchdrama
      • 1 Year Ago
      I'm telling you, there is nothing better than a simple Ford Ranger with a stickshift, the 4-cylinder, and rubber floors.
        mt1975
        • 1 Year Ago
        @muchdrama
        If you want to take it to the mechanic every week. I know I had a V6 auto 4WD, it was everything other than the engine and tranny that kept needing replaced, and my wallet for the crappy gas mileage 14 MPG, and the repairs, NEVER BUY ANOTHER AMERICAN PIECE OF JUNK EVER AGAIN.
          muchdrama
          • 1 Year Ago
          @mt1975
          What? You think I said what I said because I'm clueless? The Ranger is a great truck. A buddy of mine has had three: a six cylinder and two four cylinders. He's in the construction industry. Nary a problem with any of them.
      Snark
      • 1 Year Ago
      How 'bout this: if you guys want to see more small and midsize pickup offerings, buy one. Go out and buy a Tacoma or Frontier, in whatever spec is closest to what you want. If you're actually committed to buying a truck, you need a truck, so there's no reason not to vote with your dollars. Show the market that there's a customer base. As it stands, dismal sales and mediocre profits have convinced most automakers that small pickups are a dead end. Every attempt to bring refined, techy, compact or midsize pickups to market has failed, but if you guys really think automakers are remiss in not catering to you, you've got to show them that you're committed to buying a truck, and committed to buying a truck the same price as an F-150 with less space and capability.
        A_Guy
        • 1 Year Ago
        @Snark
        @Snark, how are you going to buy a new Ranger when they don't make them anymore?
          Snark
          • 1 Year Ago
          @A_Guy
          Show them there's demand and maybe they'll sell a successor.
        TsarBomba
        • 1 Year Ago
        @Snark
        I did! I bought an ultra low miles, used 2003 Toyota Taco 4x4 a few years back. Couldn't be happier. Everything I want a truck to be. Smallish, capable offroad, relatively lightweight, bed for hauling most things in my life, and devoid of all the luxury crap in the cabin. It feels like a purpose built tool, made to be abused. I paid dearly for it too... call me a fool. Funny thing is, it has barely depreciated, and I've been approached many times with offers to buy it for what I paid. Seems this segment needs more practical and rugged, no fuss appliances.
          DK
          • 1 Year Ago
          @TsarBomba
          You have to buy it new for automakers to care. If no one buys new ones, then there will be no used ones to buy.
          TsarBomba
          • 1 Year Ago
          @TsarBomba
          What JD444 said. And if the used market for trucks this size stays that strong, you'd think that the auto makers would take notice that there is an opportunity for a rugged, smaller truck?
        Dixon Ticonderoga
        • 1 Year Ago
        @Snark
        I was with you up until your closing. The Chevy Cruze doesn't cost as much as the Impala. That a new Frontier runs Titan money is ridiculous and is a quick way to skew demand.
          Snark
          • 1 Year Ago
          @Dixon Ticonderoga
          It may be ridiculous, but the Titan and the Frontier cost nearly the same to build. That's the problem with trucks. They're not skewing demand, they're charging what they have to given how much it costs to design and build one of the things. There's no savings to the automaker in building a smaller truck, and smaller margins.
        A_Guy
        • 1 Year Ago
        @Snark
        I bought an 08 4 cylinder Ranger new. They tried to up-sell me to an F-150 but they realized I had zero interest in that truck. Too big, shitty mpg.
      Jerry
      • 1 Year Ago
      What about small pickups? I would buy an S-10/Ranger sized truck in a heartbeat. Especially if it had a manual transmission and a small diesel! I would take a modern 4-cylinder gasoline engine too.
        Snark
        • 1 Year Ago
        @Jerry
        It sounds like you need a car, but want a truck.
          Jerry
          • 1 Year Ago
          @Snark
          You are partially correct! I would have bought one of those Pontiac UTEs if they ever had come to the states. That would have been perfect for what I do. I need to haul test equipment as part of my job. It takes up a lot of room, but is not that heavy. My 4 door sedan is not practical for this, although it can be made to work with the seats all folded down. A full-size or mid-size truck would be overkill and I would not want to pay for the gas to drive the thing during the other 80% of the time when I am not using it for work. I had an S-10 for decades, but she finally bit the dust last year. Really missing that little truck that could haul, but still got 26 MPG on the highway.
          The Other Bob
          • 1 Year Ago
          @Snark
          Or maybe he wants and needs a small truck.
          Snark
          • 1 Year Ago
          @Snark
          Doubt it. If he needed a truck, he'd own a truck. What he's describing is a car with a bed, and I find that every time this topic comes up, there's a whole lot of non-truck owners applying their criteria to a type of vehicle they're not remotely committed to buying.
          Snark
          • 1 Year Ago
          @Snark
          I'm not really addressing people who have already bought small pickups. I'm addressing people who don't own pickups but who insist that they'd buy one if it was sufficiently like the car they actually bought, but don't actually buy pickups or use them currently.
          Snark
          • 1 Year Ago
          @Snark
          Sounds like you're a textbook trailer buyer.
        PM
        • 1 Year Ago
        @Jerry
        Jerry wants the Nissan NV200 (the tiny van) or the newly updated Ford Transit Connect.
          Jerry
          • 1 Year Ago
          @PM
          No, Jerry does not want either of those...
      jjdaddyo
      • 1 Year Ago
      I think Mazda (or some other manufacturer) is insane not to market their BT-50 compact/mid-size pickup in the US with a diesel engine. All those exterminators, lawn services, couriers, etc., that are currently babying their now 5 year old Rangers because they don't want a full size p/u would LOVE to have a new pickup that got 30-40 mpg.
        • 1 Year Ago
        @jjdaddyo
        [blocked]
      • 1 Year Ago
      [blocked]
      sonjaab
      • 1 Year Ago
      Why would ANY midsize pickup buyer purchase one? They cost as much as a fullsize pickup anyhoo. Forget the scabs and America haters that buy their japan owned made in mexico tacomas or the transplant USA made japan trucks that are only assembled here by the sneaky japanese to avoid taxes and tariffs.
        mt1975
        • 1 Year Ago
        @sonjaab
        MY 2009 Tacoma has 4 full size doors, 4WD, TRD Pkg , 6 foot box (2 inches narrower than a full size), better gas mileage than a full size, and lower to the ground thatn a full-size. I get 24 MPG with my Tacoma. My Tacoma gets 8 PMG better than the junk Ford I traded in for it after the tranny went at 102k. My question is why would anyone buy anything other than a Tacoma. My cousin has a Ranger that he put 2400 into the heads, but it looks like as small as a closet compared to mine, I owned a Ranger before the Ford I traded in for my Tacoma, I can't believe how small the Ranger was and how bad the gas milegae was, I got 14 MPG with the ranger that was hald the size of my Tacoma but with the same size engine.
      A_Guy
      • 1 Year Ago
      I was considering selling my 2.3l Ranger because the value is high but then I realized there's not another truck I want to replace it.
        dal
        • 1 Year Ago
        @A_Guy
        I had a 94 Ranger with the 4.0 V6 ex-cab automatic trans, log in about 275000 mile on the odo. I put it up for sale for $4500.00, it sold in two day after I advertised it. And your right there in "Nothing" to replace it. I have been thinking about taking a trip to South America or Australia and have one shipped back home.
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