12.10.2025
CBB Decreases Marginally in November
Index Decreased 0.8 points
Canadian Black Book today released its Used Vehicle Retention Index for November 2025, which sits at 135.9 points compared to 137.0 in October. Year-over-year, the Index decreased by 0.2%.
Click here to obtain a copy of the Index.
“With the sixth consecutive monthly decrease—and the second largest this year—November highlights a deeper trend of market value correction as sales demand continues to slow,” says Daniel Ross, Senior Manager of Industry Insights and Residual Value Strategy at Canadian Black Book. “Now, with interest rates on pause as consumers digest the current economic landscape, we expect another decline in December and a much weaker marketplace heading into 2026.”
The Index peaked in March of 2022 at 165 Index points. Preceding the March peak was a run of unprecedented growth in used values beginning in the late summer of 2020, when the Index was as low as 100.5 points.
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.
ABOUT CANADIAN BLACK BOOK
For 60 years, Canadian Black Book has been the trusted and unbiased Canadian automotive industry source for vehicle values. Today the company has grown into a leading data provider of vehicle valuations, residual value forecast solutions, and VIN decoding. Canadian Black Book tools and information are considered ‘The Authority’ for vehicle values not only by car dealers and manufacturers but also the leasing, finance, insurance, and wholesale sectors. In 2020 Canadian Black Book brought to market its Enhance Vehicle Matching (EVM) solution, which will allow the industry to decode more consistently 17 digits VINs down to a specific trim package allowing a more precise vehicle valuation.
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