02.08.2024

CBB Index Decreases for Eighth Consecutive Month in January 

Index is down –8.5% YOY, falling to 144.8, but declines slowed 

Canadian Black Book today released its Used Vehicle Retention Index for January 2024, which sits at 144.8 points (a -1.4% MOM decrease). Year-over-year, the Index decreased –8.5%.  

Click here to obtain a copy of the Index. 

“Exporters have been increasing activity due to early indications of a strong US tax season/spring demand.  As a result, Canadian wholesale declines have slowed from the previous pace seen in December,” 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. 

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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