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 Kathy Ward Memorial Golf Tournament Raises Over $100k For Charity
- August 2018 Used Vehicle Retention Index
- TalkAUTO: Who Moved Your Keys? – Register Now!
- Maximum Loan Advance on Any Vehicle On Your Lot? – By Yves Varin
Canadian Black Book’s Used Vehicle Retention Index has set a new record high level of 103.6 for August, besting the previous record set last month. The strong economy, along with favorable exchange rates for continued used vehicle exports to the US, have helped keep retained values at levels not seen during the thirteen years the index covers.
Sifting through the segments we do see that Compact Car, although down 2 points from last month’s mark remains a significant 12 points above its value 12 months ago. Compact Luxury CUV/SUV has remained as hot as you might expect. It is down 1 point from last month but remains at near record levels and up 31 points from the same time last year, clearly an in-demand vehicle type. Full-size Crossovers are down 2 points this month and remain at stable levels, but down considerably from record levels set in the summer of 2016. Similar to the Full-size SUV’s, Pickup Trucks remain strong with a gain of almost 2 points from last month, still below record levels from the summer of 2016.
Luxury Cars are down 4 points of retained value from last month, and down from their record levels set in February of this year. Mid-size cars are up almost 6 points this month, setting a new record level for a segment that is on the endangered species list for a few OEM’s. Sub-Compact Car, which has struggled in recent times, has posted a gain of almost 12 points this month to come within striking distance of its previous record high from 13 years ago. Higher fuel prices are certainly helping this along, as well as much improved product offerings in the segment.
Certainly, all industry eyes are on the NAFTA renegotiations, at the time of writing this commentary. If any vehicle types or nations are singled out for tariffs by the U.S. it is our expectation that the coming months will see some very dramatic shifts in value.
To download the August 2018 Index Click Here.