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:
- Ten Things that Really Matter, by Brian Murphy
- March 2018 Used Vehicle Retention Index
- Tell the Whole Story in Your Digital Remarketing, by Cole Reiken
- CBB Connect is New and Improved
The Canadian Black Book Used Vehicle Retention Index for March 2018 index tied the all time high set back in December 2017 of 103.0. The industry wide wholesale value index is up by +3.2% from the same time last year, and up +0.5% from last month’s mark.
This Index serves to offer unbiased and accurate insights and statistics regarding the health of the used wholesale vehicle market in Canada.
It is important to note that the Canadian dollar started the month at just under 78 cents, but then it promptly fell to 76.5 cents. The weaker dollar helped to keep Canadian vehicles affordable for export for at least a portion of yet another month.
Looking though the various segments the biggest value gainers from last year are compact cars (+7.8%) and mid-size cars (+6.5%). The most significant increases from last month are compact crossover/SUV and full -size car which are both up +1.8% from February.
On the loss side the full-size pickups show some softening at -1.9% and minivans at -4.7% compared to March of 2016. The full-size crossovers, luxury cars and full-size vans shared the same decline of -0.6% since last month’s index.
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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Conrad Galambos, 905-979-7039, firstname.lastname@example.org