Canadian Black Book Retention Index Continues to Reach New Highs
October 07 2021
Canadian Black Book, known in the automotive industry for providing timely, independent, and precise, Canadian Specific vehicle pricing, data, and analytics, released its Used Vehicle Retention Index for September 2021. The Index reached an all-time high of 132.6 points growing 4.8 points (3.8%) over August. Fourteen of the past fifteen months have experienced growth, and September is the second largest month-over-month increase ever, behind March of 2021 at +4.1%.
supply disruptions are causing havoc for OEMs and retail channels alike. Delays,
coupled with strong demand, have sent retained values skywards with no
immediate end in sight,” says Yolanda Biswah, Senior Vice President and General
Manager at Canadian Black Book.
The Index is an impressive 21.7% higher compared to September of 2020, which sat at 109 Index points. For September 2021, the segments with the highest value increase were Near Luxury Car with 7.3% growth, Full-Size Car with a 5.3% increase, and Sporty Car gaining 5.8% more value. This month saw increases across all segments measured, with no segment experiencing any value decrease.
The Canadian Black Book Used Vehicle Retention Index is calculated using CBB’s published Wholesale Average value on two- to six-year-old used vehicles, as a percent of original typically equipped MSRP. It is weighted based on registration volume and adjusted for seasonality, vehicle age, mileage, and condition. The Index offers an accurate, representative, and unbiased view of the strength of today’s used vehicle market values. The Index dates to January 2005, where the Canadian Black Book published a benchmark index value of 100.0 for the market.