07.11.2023
CBB Index Decreases –0.2%
The overall index has been largely flat since October 2022
Markham, ON (July 11, 2023) – Canadian Black Book today released its Used Vehicle Retention Index for June 2023, which sits at 158.5 points (a 0.2% MOM decrease). Year-over-year, the Index has decreased –1.76%. Click here to obtain a copy of the Index.
“The Canadian wholesale market continues to be relatively stable this year without the wild swings up or down seen over the last few years. Lack of both new and used car supply continues to be a challenge that we face with the situation slowly improving,” says David Robins, Principal Automotive Analyst and Head of Canadian Vehicle Valuations at Canadian Black Book.
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.
Month-over-month, 9 segments saw growth. Compact Van (+1.73%), Luxury Car (+1.55), and Sporty Car (+1.47%) saw the greatest strength. Prestige Luxury Car (-1.91%), Full-Size Luxury CUV/SUV (-1.30%), and Sub-Compact Luxury Car (-1.15%) were the 3 segments that declined most.
Full-Size Van saw the largest year-over-year decrease at -10.41%. The highest year-over-year increase was again Compact Car at 9.97%.
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.
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