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:
- January 2019 Used Vehicle Retention Index
- 2019 CBB Best Retained Value Awards Announced
- Canadian Black Book – What We Do
- Brian Murphy on CTV Consumer Alert
The first month of a new year is behind us and another record high for Canadian values has been set as the Canadian market continues the positive trend that started in the summer of 2010. Our Used Vehicle Retention Index, which tracks the retained values of two to six-year-old values in Canada, posts an impressive January result of 105.2. This is the highest level seen since the index started tracking our market using January 2005 data.
Some of the biggest gainers from December data were the compact cars and midsize cars which both set record high levels. This is quite an interesting result, as there is a great deal of chatter within the industry about the sliding popularity of these segments. The value result show that the 2-6 year old products in these segments are doing better than they have ever done. Minivans are also up a full point for January, but still a full seven points behind the all time high they hit June 2016. Subcompact car and midsize cars show the biggest lift from a year ago with gains of 8.0 and 5.6 respectively. These increases are quite significant, particularly when some may assume the demand is focused on SUVs in this market.
On the flipside of the index, we see that Compact Luxury SUV’s, Luxury Cars and Mid-Size Luxury SUVs are showing the biggest decreases from last month across the 20 segments we calculate an index for. Compact Luxury SUVs were down by -1.8 points the Mid-Size Luxury SUV’s were off by -2.4 and luxury car values fell by -1.9. Compared to the same period last year the biggest declines were in the full-size vans segment which was down by 4.2 points, luxury cars fell by 8.0 points and the more expensive prestige luxury cars were down by 7.1 points.
The dollar strengthened in January by a full 3 cents since Christmas, but this does not seem to have slowed values at all in the Canadian market. At 0.76 cents the Loonie is still well below the levels at which a significant slowing of exports to the U.S. and a decline in market values would occur.
To download the January Index Click Here.