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:
- Canadian Black Book Used Vehicle Value Retention Index Continues on Record Setting Pace for June 2019
- A love letter to sports cars? By: Brian Murphy
- Industry Preparing to Tee Off for the 22nd Annual CBB Kathy Ward Memorial Golf Tournament
The Canadian Black Book Used Vehicle Value Retention Index, which measures the value of cars during their prime remarketing years, hit another record level for June at 106. The weak Canadian dollar and strong demand on both sides of the border continues to make conditions perfect for market gains.
To put this high-water mark in perspective, 106 is 31 points higher than the record low which was set in June 2010. All things being equal, the average vehicle is worth a staggering 31% more than it was just nine years ago, which is a sizable increase by any measure.
“When we peel the index onion back a little it is interesting to note that it is sedans that are pulling the index up,” says Brian Murphy, VP Research & Editorial at Canadian Black Book. The Sub-Compact segment is up an impressive 9.5 points since the same time last year. Compact Cars have increased by 7.3 points and Mid Size Cars are up 5.2 points. With all eyes on the SUV segments, over the past many months or even years, it is significant to see cars show such strength.
When comparing gains from last month it is the Full Size Car segment which posts the largest gain at 2.6 points. Full Size Pick Up Trucks are up by 1.3 and Mid-Size Crossovers posted a gain of just under a point at 0.7.
On the negative side of the index it is the Compact Luxury CUV/SUV segment, which is down the most since June of last year at 5.79. Luxury Cars and the Small Pick Up Truck segment area also down by approximately 4%.
From last month the Minivan segment has slid by 2%, and Small Pickups by just under two points.
Will next month be another record or are we at a turning point? Tune in to Canadianblackbook.com for details next month.