Welcome to the second edition of 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:
- 2018 Canadian Black Book Best Retained Value Awards
- CBB Connect Issue – We Apologize for the Inconvenience
- Our Golf Tournament gets Renamed in Honour of Kathy Ward
- Canadian Black Book Launches the Total Loss Report
- January’s Used Vehicle Retention Index
Canadian Black Book Used Vehicle Retention Index For January 2018
Markham, ON, January 9, 2018 – Canadian Black Book releases its third Used Vehicle Retention Index for Canada, covering January, 2018.
This Index serves to offer unbiased and accurate insights and statistics regarding the health of the used wholesale vehicle market in Canada.
With the first month of 2018 behind us, this month’s Canadian Black Book Used Vehicle Retention Index reveals some interesting and notable value trends. The entire industry shows a gain of 3% from January 2017, which is not surprising given the overall strong values over the course of 2017. What is more noteworthy is the 0.7% decline for the month of January as compared to values in December 2017. We have not seen a January decline in the index since 2009 when values fell by 1.2%.
Looking around the segments the biggest decreases of note in the retention index were found in the Full-Size Car (-2.2%), Compact Crossover/SUV (-1.5%) and Sub-Compact Car (-1.6%).
The largest gains were seen in Full-Size Luxury CUV/SUV (+0.3%), Full-Size Van (+0.5%) and Premium Luxury Car (0.4%).
The dollar closed the month 1.5 cents higher than it started, which does
negatively impact the attractiveness of Canadian used vehicles for export. Canadian Black Book will continue as always to keep our eyes on the dollar, which has direct impact on used values.
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 https://blog.canadianblackbook.com/ and distributed to automotive media for wider industry consumption.
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Conrad Galambos, 905-979-7039, email@example.com