Welcome to The Canadian Black Book – The Value. Our goal is to provide our clients and partners with news, event updates, new initiatives and opinions from Canada’s trusted source for vehicle values and automotive insights. In this edition we cover:
Canadian Black Book Used Vehicle Retention Index for February 2018
This Index serves to offer unbiased and accurate insights and statistics regarding the health of the used wholesale vehicle market in Canada.
Even though off lease used vehicle supply continues to grow, both in Canada and the U.S., February 2018 marks the highest index level for the month since tracking began in 2005. The index at 102.5 is up +2.5% points from February of last year. After a softer January where values fell -0.7% from December the index rose +0.2 points to land at the present 102.5 level.
The largest gainers year-over-year (YOY) are Compact Cars at +6.1% and Subcompact car at +6.0%, two segments that had previously been under significant downward price pressure yet have recently rebounded. The biggest losses in YOY value were the Minivans at -5.3% and Full-Size Pickups at -2.2%.
The largest advances month-over-month are the Sports Cars at +1.5% and the Mid-Size Cars at +1.6%. Surely the Sports Car value gain is a sign that spring is indeed around the corner. Conversely, the largest retreats from a MOM point of view, were the Minivans at -1.7% and the Small Pick-up Trucks at -1.4%
The Canadian dollar has shown some weakness in February with a drop of $0.03 so that will make Canadian used vehicle exports look more attractive.
The Canadian Black Book Used Vehicle Retention Index is calculated using Canadian Black Book’s published Wholesale Average value on two- to six-year-old used vehicles, as a percent of original typically-equipped MSRP. Canadian Black Book’s Wholesale Average is a benchmark value for used vehicles selling in the wholesale auctions with the vehicle quality in average condition. The index is weighted based on used vehicle sales volume and adjusted for seasonality, vehicle age, mileage, condition, and inflation (MSRP).
Aggregated from daily vehicle value updates, and captured throughout thousands of wholesale vehicle transactions across the country, the Canadian Black Book Used Vehicle Retention Index represents data across all regions of Canada. The Index is based on a comprehensive list of vehicles included in the Canadian Black Book wholesale database, and includes no bias toward any brand, data source or region, ensuring an accurate report of the used vehicle market.
The Index is posted monthly on http://blog.canadianblackbook.com/ and distributed to automotive media for wider industry consumption.
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