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:
- April 2019 Used Vehicle Retention Index Holds Strong
- Do you have gas price pains? – By: Brian Murphy
The CBB Used Vehicle Retention Index, which tracks the retained wholesale values for two to six-year-old Canadian vehicles remains at record high levels. At 105 the index is up almost 2 points compared to this time last year. Prices have not been this strong in the over 14 years of market performance that the index tracks.
Some notable superior performers this month are compact cars, which are up 1.5 points from last month and over 5 points from last year. Subcompact cars are also showing an impressive gain of nearly 8 points over last year and 1.6 points versus last month. See our column this month on gas prices, which may explain some of the appeal of these smaller and more fuel efficient vehicles. Midsize cars are apparently still in favor with many consumers, and have risen by 4.2 percentage points since last year.
On the downside, prestige luxury cars and luxury cars are two of the biggest decliners seeing losses of 5.2 and 3.3 respectively. Compared to last month minivans and small pickups are amongst only a handful of decliners with decreases of approximately 1 percent each.