Markham, ON, January 9, 2018 – Canadian Black Book releases its second Used Vehicle Retention Index for Canada, covering December, 2017.
This Index serves to offer unbiased and accurate insights and statistics regarding the health of the used wholesale vehicle market in Canada.
December 2017, saw a 3.8 per cent gain in values year over year (YOY%) versus the same month last year. This continues the YOY% growth since 2010.
Month over month (MOM%) growth for December witnessed solid growth over November of 0.6 per cent. This is the highest MOM% gain since July of 2017, which saw a full percentage point growth.
Compact and Subcompact car were two of the strongest segments at year end at 7.0 per cent and 7.6 per cent gains respectively. These segments have been performing well of late and are experiencing a notable rebound.
Midsize Crossover/SUV are down by 2.0 per cent, capping off a year of steady decline every month. Continued weakness in the segment is expected as exports to the U.S. slow, with a rising American supply and falling prices. Over the course of 2017 the segment was down almost 5.0 per cent on average, for each month over month score.
Midsize Luxury CUV/SUV’s continued to decline in value a further 0.1 per cent. A marginal MOM% decrease, yet a larger story given the average MOM% decline was 3.3 per cent for the year. Full-Size Crossover/SUV had a gained 1.7 per cent in December, however experienced an average MOM% decline of 3.5 per cent for 2017.
Full size pickup trucks were seeing a slowdown, until the fourth quarter of 2017 when they saw an improvement, however, ending the year with a MOM% average decline of 0.4 per cent.
“We are happy to distribute our second Index and first of 2018. In general, as supply of products rise across the board, on both sides of the border, prices domestically are expected to fall. We will keep you up to date on these trends each month,” says Brian Murphy, Vice President Research and Editorial, Canadian Black Book.
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.
About Canadian Black Book:
For more than 55 years, Canadian Black Book has been the trusted and unbiased Canadian automotive industry source for vehicle values. 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. For the past seven years, consumers have also benefitted from the same expert insight. In 2010, Canadian Black Book introduced their consumer website that includes free online tools for calculating a vehicle’s Trade-in Value, Future Value and the Average Asking Price. The popularity of these tools has taken off with the website seeing an average of over 170,000 value lookups monthly. Canadianblackbook.com offers unique vehicle valuation tools and is a distinctly Canadian resource for car buyers and sellers.
For more information or interview requests, please contact:
Canadian Black Book