IRVINE, Calif. -

Hybrid and electric vehicle values are falling faster than any other segment, even though fuel prices remain above $4 per gallon in many states

According to Kelley Blue Book’s latest Blue Book Market Report, hybrid and electric vehicle value declined exceeded 3 percent in July, topping the charts for depreciation this past month.

Alec Gutierrez, senior market analyst for Kelley Blue Book, attributed this decline to a couple of reasons, including improving gas mileage for new compact traditional fuel vehicles.

“Consumers are less willing to pay top dollar for used electric, hybrid, and alternative-fuel cars for a number of reasons,” said Gutierrez. “ First, lease deals on many popular new electric vehicles such as the Fiat 500e, Chevrolet Spark or Nissan LEAF can be had for as little as $200 per month and $999 down.

“Also, consumer interest in used alternative-energy vehicles has faded as many subcompacts, compacts and even mid-size cars now are able to achieve close to 40 mpg on the highway,” he continued.

And the value decline among alternative fuel vehicles isn’t specific to July.

In the first half of 2013, overall average auction values fell by 4.2 percent, or $195, but the hybrid car segment saw a whopping 13.2 percent ($2,342) slide.

“The hybrid car segment is down significantly at 13.2 percent, or $2,432, despite fuel prices remaining relatively flat throughout the first half of the year,” said Gutierrez. “This reiterates that consumers are becoming less willing to pay top dollar for vehicles within the used hybrid car market.”

Offering some comparison, the mid-size truck and sports car segments are both up 2.3 percent from the beginning of the year. KBB explained trucks are seeing price strength due to “increasing demand as several models recently ended production.”

KBB also provided the following charts to illustrate hybrid and electric vehicle depreciation rates this year: