10.08.2024
CBB Remains Flat in September
There was no change to the Index in September 2024
Canadian Black Book today released its Used Vehicle Retention Index for September 2024, which sits at 136.0 points (compared to 136.0 in August). Year-over-year, the Index decreased –13.2%.
Click here to obtain a copy of the Index.
“Improving conversion rates at the auction has aided in a flat month-over-month change in the used vehicle retention index for September. Increasing consumer confidence, lower interest rates and exporters are at the route of the increase in demand,” says David Robins, Senior Manager 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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