10.06.2025

CBB Remains Flat in September 

Index Decreased 0.1 points 

Canadian Black Book today released its Used Vehicle Retention Index for September 2025, which sits at 138.0 points compared to 138.1 in August. Year-over-year, the Index increased by 1.5%. 

Click here to obtain a copy of the Index. 

“Values declined month over month, reflecting a continued softening in market conditions,” said David Robins, Senior Manager and Head of Canadian Vehicle Valuations at Canadian Black Book. “With the Bank of Canada decreasing interest rates and signaling that more cuts may follow, we will see how much this helps drive market demand.”

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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