Black Book Used #Vehicle Retention Index Reaches A Mark Not Seen Since October 2016
Index Up +1.9% Over Last Twelve Months
LAWRENCEVILLE, GA - October 2, 2018 (Investorideas.com Newswire) Black Book, a division of Hearst that provides industry-leading used vehicle valuation and residual value forecast solutions, released its Used Vehicle Retention Index for September (116.0), a +1.9% increase over the last twelve months (113.9) and a +0.5% since August (115.5). Click here to obtain a copy of the latest index data.
September's Index mark of 116.0 last reached the same level in October of 2016. What's more, the Index was up for all segments ranging from +0.26% (Small Pickups) to +1.82% (Sporty Car). The five segments with the largest overall impact in the increase for the September index are:
- Compact Crossover/SUV: +0.89% MOM
- Mid-Size Crossover/SUV: +0.89% MOM
- Compact Car: +0.89% MOM
- Full-Size Pickup: +0.73% MOM
- Mid-Size Car: +0.64% MOM
The Black Book Used Vehicle Retention Index is calculated using Black Book's published Wholesale Average value on two- to six-year-old used vehicles, as 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 ratings over the last few months are a clear indication of the strength that has been present throughout the used vehicle market in 2018," said Anil Goyal, Executive Vice President, Operations. "What's interesting this month is the broad strength in the market across all vehicle segments. It is unlikely for the Index to maintain this upward momentum, as we get to the end of the year when typical depreciation patterns are expected to set in."
The Index dates to January 2005, where Black Book published a benchmark index value of 100.0 for the market. During 2008, the index dropped by 14.1% while during 2016, the index fell by just 6.4%. During 2011, the index rose strongly from 113.3 to 123.0 by the end of the year as the economy picked up steam and used vehicle values rose higher. It continued to remain relatively stable, rising slightly until May of 2014 when it hit a peak of 128.1.
To obtain a copy of the latest Black Book Wholesale Value Index, please click here.
About Black Book
Black Book® is best known in the automotive industry for providing timely, independent and accurate vehicle pricing information, and is available to industry-qualified users through online subscription products, mobile applications and licensing agreements. Since 1955 Black Book has continuously evolved to ensure that it achieves its goal of delivering mission-critical information to its customers, along with the insight necessary to successfully buy, sell, and lend. Black Book data is published daily by National Auto Research, a division of Hearst, and the company maintains offices in Georgia, Florida, and Maryland as well as the Canadian Black Book in Toronto. For more information, please visit BlackBook.com or call 800.554.1026.
Merit Mile for Black Book
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