October 15 2020

For September, the Canadian Black Book Used Vehicle Retention Index has hit a new all-time high of 109 points. The Index commenced in January 2005 when the starting point of “100” Index points began.

Canadian Black Book Used Vehicle Retention Index for September 2020 - All time record set at 109 Index points

A dramatic rebound of used values began when sales commenced after COVID-19 lockdown measures eased . The surge in demand, combined with a widespread shortage of vehicles, have boosted the index to this new record high.

The 109 record level is up 1.6 index points from August, which in percentage terms is a 1.5% gain. Compared to the same month last year, the index is 0.8 points higher or 0.7%. In summary, the index has now regained all that it had lost since February of this year due to the market impact of COVID-19.

In September, many segments are still in the recovery phase from the value decline which began in February. The index fell during that period by 7.8 index points or 7.2% of its value, which was a remarkable and unprecedented decline in wholesale values, a record moth-over-month loss at the time.

For the month of September, it was the Luxury Car Segment that posted the largest gain of 4.7 index points over last month. This was followed by the Compact Luxury CUV/SUV, with a lift of 4.5 points and Sporty Car which rose by 3.7 index points.

As a strong month overall, those segments that did lose value, did so marginally. The largest decrease in values from August was seen in the Premium Sporty Car segment at -0.6 Index points. Minivans saw a loss of-0.3 Index points and Sub-Compact car declined by -0.2.

The largest gains in the segment indexes from one year ago are found in the Full-Size Crossover SUVs, and Sub-Compact Car, both with an identical lift of 8.2 points. This is followed by Full-Size Car, which saw an increase of 7.4 points.

Compared to September of 2019, it is the Full-Size Luxury CUV/SUVs has declined by a very large 7.5 index points. Small Pickup Trucks have fallen by 4.4 index points, and Compact Car declined by 1.4 points.