The Value – Issue #12: November 2018 Used Vehicle Retention Index

HAPPY HOLIDAYS!  Welcome to Canadian Black Book’s – 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:

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The November 2018 CBB Used Vehicle Retention Index saw yet again another record level at 104.6, which exceeds the all-time record high mark set last month by 0.3 points. In November a much weaker Canadian dollar certainly played a supporting role in keeping demand alive for used exports to the U.S. market. The export opportunities, along with a generally very strong economy, has keep used values at very high levels. The record-breaking year for sales volume by Canada’s used car dealers continues, according to Statistics Canada used car sales are up a remarkable 6 per cent (in dollars) compared to this point in time last year and almost 16 per cent from 2016 results.

One of the biggest gainers in retained value this month, compared to the same time last year, is the growing Luxury Compact SUV Segment. The segment is up a truly impressive 27 points from November 2017. This clearly illustrates how much demand there is for this emerging segment in Canada.

The mainstream Compact Crossovers posted a strong gain of 3.4 compared to last year and 0.6 compared to last month. Despite falling gas prices the compact (+5.9) and subcompact (+7.5) segments posted remarkable gains when compared to November 2017.

On the down-side, Prestige Luxury Cars led the segments that showed weakness from the same time last year and was down by 5.8 points. Minivans were down by 3.8 and Premium Sporty Cars were close behind with a drop of 3.6.

Compared to last month luxury cars at are down by -1.5 per cent and Sporty Cars are off by -2.2 percent making them two of the most noteworthy decliners.
It will be interesting to see if December finishes the year with a new record, or we finally start to see some downward price adjustment in the Canadian market.

To download the November Index CLICK HERE.

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