The Value – Issue #8: Mr. Sharing Economy, in the Fast Lane!

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:

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By: Brian Murphy, VP Research and Editorial, Canadian Black Book

Like many of you, I have a fairly long drive into work each morning.  In some respects, I don’t mind.  It gives me quiet time to think, listen to the news, and make a few calls (hands free of course).  To be honest, I can’t say every morning I contemplate the growth of the sharing economy, as it has been called, but recently I did just that.  By sharing economy, I am referring to the businesses of the world that are embracing the idea of shared assets to generate revenue, such as Uber, Lyft and Airbnb.

Photo by ARAS Imaging (www.arasimaging.com)

So, back to my commute.  On a sunny summer morning, I “met” a member of the sharing economy.  He was driving much too slow, in the passing lane of one of Toronto’s busiest highways.  I tried my best not to get too animated about his lack of highway manners, but then I noticed the car itself.

A few things jumped out at me.  First is that it is a new car and the top trim, with AWD too.  I know the model just launched a few weeks earlier, it was the first one I had seen on the road.  The next observation I had on my slow driving friend, is that he has both an Uber and a Lyft sticker on the rear window of his car.  Interesting, and a possible dramatic ‘oh-no’ for my unhurried friend!

I know there are many people who drive for services like Uber and Lyft on a casual basis and not as a full-time job.  However, I wondered if this driver is a full timer and now is driving a brand new vehicle and could potentially drive more than 80,000 km a year as a means of employment?  If so, things may not go well, from a cost of ownership perspective.

This particular car really grabbed my interest.  I checked the OEM’s website and Mr. Sharing Economy can finance it for 84 months (seven years!) for a very attractive $100 a week, with top trim, and AWD.  Deal?  Well, it depends on how he uses it.  Most of the assumptions about ownership and depreciation today are based around a consumer driving 20,000 km per year.  If this gentleman drives the average amount, his car will have about 180,000km on it when he pays it off.  The car will still be alive, but certainly heading off to the sunset years ahead of its service life.

What if this gent has really bought into the whole sharing economy concept and he drives 60,000km per year?  His Uber and Lyft stickers seem to suggest he is at least partially involved in these two enterprises.  So, when his shiny car is paid off he will have over 400,000 km on it.  If it does make it that far, which I don’t think it will.  You can probably guess that his vehicle will be worth $100 at that point, but only if it has three quarters of a tank of gas in it.  Ouch.  He will never have any equity in the car and depending on his luck he might still be paying for it years after it has gone to the big scrap heap in the sky.  I assume that he is not leasing the car, which would be another set of nasty circumstances.

In addition to depreciation, the owner of this shiny ridesharing vehicle is probably looking at 4-5 sets of tires, and he may be required to have snow tires as well. There are likely over 50 oil changes, 500 car washes etc.  There will also be some major component failures over that time, probably about 3 or 4 brake jobs, wheel bearings, and a transmission if he is lucky.  I wonder if he has done the math.

If he accidentally writes the car off partway through this seven year loan, he might find he is in a difficult place with respect to his small insurance payout (for an extremely high mileage car!) and the rather large balance remaining on the loan.  Given all these costs just to be on the road, I wonder how he will make a living wage.  It won’t be easy and likely not a sustainable way to run his little business.

My commuter musings are not meant to be a criticism of Uber and Lyft, but rather a cautionary note to anyone who is thinking of jumping into driving for the sharing economy.  Make sure you have done the math and understand the real costs.  Furthermore, driving with a brand-new car is probably the worst thing you can do.  Consider a used car that has been through at least the first 24 months of the greatest deprecation.  To avoid maintenance nightmares, do your research into which cars are bulletproof for reliability.

To those of you in the business of financing and leasing cars, I ask – are you fully prepared for Mr. Sharing Economy?  Today, most car leases prohibit use for business, but are you protected from risks like this?  Perhaps vehicle inspections every 12 months to check the odometer could de-risk the business for you.  Similarly, on loans, the value of the car is the security you have for future payments, but what happens when the value of the asset falls to $0 in a very premature way?  Is your risk of default higher on a $15,000 loan when the asset is now only worth a faction of that amount?

As the sharing economy grows (and if it is sustainable!) I am going to predict that vehicles will need to self report their mileage regularly to the lender or lessor and have tracking technology activated to have financing in place.  If enough lenders and lessors are stung by this phenomenon, you can bet that will be the case.   Maybe even Big Brother can get this guy to move out of the passing lane?

The Value – Issue #8: TalkAUTO: A Drive Down Memory Lane

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:

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By: Brian Murphy, VP Research & Editorial, Canadian Black Book

TalkAUTO…This event holds a special meaning to me in my career.  I’ve been around it in some capacity since its inception in 2012.  Over the years I’ve had the pleasure of helping organize the event, moderate discussions, present my work, network with my peers, stuff materials in shopping bags, meet new people, and sit back and listen to the business and automotive knowledge being shared from the industries best.

In year one, I clearly remember how concerned we all were about getting people into the seats.   Our registration numbers were quite good, but we still questioned whether or not enough registrants would actually show up to justify the efforts put into creating this conference.  Well on November 14th, 2012, the day came and all trepidation was quelled.  Over a hundred attendees from across the industry took it in.

Fast forward, only two years later and a new panic set-in on event day.  Do we have enough seats?  The staff organizers at Canadian Black Book and J.D. Power had to stand at the back, to free up some chairs for attendees to sit in.  Now the event easily amounts to over 400 guests each year.

I have a unique perspective given that I have worked with both title sponsors of TalkAUTO, in the past with J.D. Power and now with Canadian Black Book.  Over the years, my career has demanded a hefty travel schedule, but I do whatever I can to be in town for TalkAUTO.  It really is that important to me to be there, and absorb the wisdom from all the speakers and touch base face-to-face with Canada’s auto industry movers and shakers.  And, I’ve been able to share what I know through my own presentations (which I always spend way too much time over-preparing for).

The highest compliment we could afford this event, would be to say that its content seems to always be relevant, hitting the mark on current industry issues, opportunities and trends.  It’s the content and those experts that provide it, which makes this such a desirable annual gathering, not to miss.

To me, all the efforts put into presenting this day become worth it, when after TalkAUTO each year, I get numerous emails from attendees asking for copies of any or all of the presentations they just witnessed.  This proves to me that the agenda and subsequent content, provides real value to those in the room.  And I know that I am not the only person close to the event getting asked for those decks.

Personally (and without trying to toot my own horn), I’ve taken great delight having an OEM tell me how much they appreciated my presentation.  They’ve passed it around their Canadian head office, and then across the pond to their corporate parent, where it became a helpful planning resource.

Similarly, I recall a meeting with a senior management team of a financial institution to discuss a particular industry subject.  I sensed that the one executive was in agreement with what I was saying. Always a good sign.  Then he opened his desk drawer and pulled out my TalkAuto presentation in hard copy and said he had this from the year before, and what we were talking about was on about slide five!  Again, given how much time it takes me to prepare for these, this is what makes it worth it!

TalkAUTO really is a premier Canadian auto industry networking occasion.  Given the amount of OEMs around the GTA, you might assume that more of these events would exist, but they don’t.  Gathering a strong representation from OEMs, dealers, finance, suppliers, parts, academia, media, and more provides real opportunities to talk the talk.  I know for fact, that many important business connections, deals and even jobs are had as a result of TalkAUTO.

But it is not always perfect.  In 2017, during my presentation, onstage I did have a slight mix-up where I said I worked at J.D. Power, instead of Canadian Black Book and got a few strange looks.   (Note to self, try not to make that mistake when your boss is sitting twenty feet away).  .  It was an honest mistake, yet good thing Brad Rome has a great sense of humour!

The feedback we get about TalkAUTO is overwhelmingly positive.  About the only complaint I hear about TalkAuto is that someone didn’t know about it and didn’t get registered in time or rearrange their calendar to avoid conflict with another commitment!

TalkAUTO Canada 2018 is November 7th, so mark it down!  Registration is open at www.talkauto-canada.com .  Oh, and it’s free!  I know I’d regret missing it!

The Value – Issue #8: July 2018 Used Vehicle Retention Index

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:

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The Canadian Black Book Used Vehicle Retention Index is mirroring the hot summer weather much of Canada has had recently! The July industry index of 103.3 is only 0.01 off the record high mark from April of this year. This is an excellent indicator of how strong values continue to be, despite growing used car supply in Canada and the U.S.. The July index is up 0.3 points from last month and a strong 2.4% from the same time last year.

Surveying the different segments, we see that compact car has posted a significant lift from July of last year with a 7.5% gain. Compact car prices had previously fallen in 2016, so the current increase is partially a price correction, and we expect renewed interest in smaller cars given higher gasoline prices. Sub-compact cars are following a similar course with gains of 11.1% since last year and 5.1% from last month. Smaller cars are one of the most active segments in the market at the moment and will be one to watch in the coming months.

Full size pick-up trucks are down 3.1% from last year, but up 1.1% from last month. Small pick-ups are also down almost 1% this month, and down by 1% from the same time last year. We expect more headwinds for truck pricing in the coming months as more supply comes back from leases ending, both in the USA and Canada.

Mid-Size Luxury CUV/SUV are also slowing with drops of 0.8% this month and 2.2% from last year. Minivans are only off 0.3% from last month but theare in a pretty significant slide of 6.7% versus 2017.

So far the index does not show any response to suggestions of coming import tariffs from the U.S. administration, and that is another positive observation for a sunny month for the industry.

To download the July 2018 Index Click Here.

The Value – Issue #7: Bordering On Chaos? – By Brian Murphy

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:

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Tariffs and the Canadian Used Car Market

By now, many of you have likely had at least a few sleepless nights pondering the possible grief U.S. vehicle tariffs could create for the Canadian auto industry.  I certainly have in recent weeks. I’m writing this article, just days after Canada Day 2018 and our government’s imposition of reciprocal tariffs on steel, aluminum and a menu of other products, so nothing has happened yet with respect to vehicle tariffs.

Brian Murphy
Brian Murphy, VP Research & Editorial, Canadian Black Book

I’m hoping (perhaps praying) that nothing will happen, other than a new NAFTA deal fair to all parties.  The impact of new tariffs would be devastating.  I recently read that John White, President of the CADA, described the potential damage, before the House of Commons Standing Committee on International Trade, as “tsunami-like” and that is the most concise explanation I have seen yet.

Much has been covered about possible impacts of these terrible tariffs on new cars, but I would like to steer the narrative towards the impact on our used car market and values.

Currently there are a large number of used cars exported to the U.S. from Canada each year.  Since 2015, it has been reported by many to be in the 200,000 – 350,000 unit range.  This has primarily been driven by a weaker Canadian dollar and a historical shortage of used cars in the U.S.

When the Canadian dollar passed below $0.80 in 2015 it triggered the opportunity to profit by exporting cars south.  Given the current exchange rate, and even with falling U.S. used car prices, this model is still a profitable practice.  This exodos of cars and trucks of all stripes has helped keep Canadian used car prices at record high levels.

The Canadian Black Book Used Vehicle Retention Index, which tracks the value of two to six-year-old vehicles, continues to set month over month all-time records.  This strong value storyline is partially due to this export activity and our generally healthy economy, both of which create strong demand and raise prices.

Stronger used car values have rocket-propelled new car sales numbers, as retailers and OEM’s pull delighted customers out of leases and loans early and put them into new vehicles.  A 25% tariff would derail all this export activity and have a massive impact on the Canadian used car landscape.

The specific impact a tariff will have has a great deal to do with the actual terms and conditions written into the policy.   It’s difficult to anticipate exactly what that fine print would look like.  I’ve assumed that any tax imposed by our southern friends on new cars would also be applied to used cars.  This would avoid games being played with shipping a new car with 50km on it and calling it a used car.

If a used tariff does come true, it would matter if it was applied to all cars regardless of country of origin or just cars produced outside of the U.S. market.  It could also depend greatly on how and if the U.S. redefine their content rules for what constitutes a U.S. car vs a foreign car.  There are lots of “what-ifs” and “it depends” that exist at this point in time.

If we assume a tariff is applied only to vehicles manufactured outside of the U.S., we could reasonably expect the values of those specific vehicles to fall sharply at Canadian auctions almost immediately after the tariff is implemented.  Buyers for the U.S. market would simply no longer purchase these at Canadian auction.

If tariffs are more broadly applied to all cars coming from Canada, regardless of origin, the result for used vehicles that are being exported today would be a fall in value.  Lower prices for some vehicles would then spill over, as other vehicles fall in value due to competitive market pressure.  Over time we expect that some ‘made in U.S.A.’ vehicles may then see a nice rebound in prices.

So, why would there be this up and down roller coaster?

Presumably the Canadian government would respond to a U.S. tax buy imposing a similar 25% duty on new U.S. made cars.  Canadian consumers would likely (over time) look to the used market to buy that vehicle that was now much more expensive as a new model, due to the import tax.  How long this may take depends on how much inventory dealers and OEM’s have, which always varies from car to car and region by region.  For some higher-end SUVs and trucks some cost of the tariff could be absorbed by OEMs, but they would likely lower incentives, making for much higher monthly payments.

With a lot fewer U.S. built new cars coming into the Canada, given lower demand, supply for those vehicles would be very tight and used prices might be almost “like new” for lightly used units.

On top of everything, dealers would be affected greatly as well.  If certain used car prices fall at auction, this would mean retail prices would also be affected forcing dealers to “reprice” their used inventory, resulting in much lower prices.  How big the impact is depends on how fast consumers substitute used cars for new.

No matter how I look at this situation, I see no “winning” on either side of the border, only painful losses!  Retaliatory tariffs by Canada and other nations to any U.S. action will create lower demand for U.S. product instantly.  Without that export demand, many U.S. auto sector workers will subsequently be out on the street, and their Canadian cousins will be right there with them, talking about how great things used to be in the old days.  I beg for cooler heads to prevail, the economies of both countries and this great auto business of ours are counting on it.

The Value – Issue #7: Used Vehicle Operations Getting Technical. Let’s Talk Software. – By Cole Reiken

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:

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Software really is at the heart of most of the business operations at today’s dealership.  I’m not discounting the importance of good people, great thinking and hard work, but the fact remains that technology is integral in the selling of vehicles today.  Software is deployed to manage marketing of new and used, accounting, sales, inventory, HR, and I could continue down the long list of specific tactical elements where software helps dealers do business.

Cole Reiken, Vice President, Digital Strategy & Product Management, Canadian Black Book

The focus here will be on used vehicle operations and what I see as constituting best practices for the used business unit to concentrate on.  As you know, there is much to consider.

Off the top, it is critical for used car managers to understand which vehicles to purchase, pricing trends in the market and how much they should be paying for those vehicles.  The right vehicle valuation software is crucial to help provide this knowledge.

When selecting your valuation tool, it is important to know what type of data is provided.  For instance, auction reporting data provides insights on what used vehicles sold for at auction versus data sourced from retail listing prices from vehicles posted online.  Dealerships should hone in on tools that provide more comprehensive value and trend data that includes auction results, industry sales data and upstream OEM sales from across Canada.

Okay, now that we (hypothetically) have that knowledge in place, how and where are the best tech methods to source those vehicles?  Using the power of the internet to leverage online auctions and participating in simulcasts work best.  They help increase reach by covering a larger geographic distance, as opposed to attending actual auctions themselves.  On top of that, transporting vehicles is relatively inexpensive.  This can all be done at a desk in the dealership.  In doing so you may identify regional opportunities to find specific pricing on specific types of vehicles.  The best case scenario would be to couple this technique with your newly installed valuation tool to help recognize the best vehicles to purchase.

It’s also wise to pay close attention to vehicle appraisal tools employed in your used car department.  You want your appraisal tool to allow you to review the vehicle at auction or during the trade-in process.  The best versions of this software capture vital details about the vehicle’s current condition.  The most sophisticated will offer photo capture options, to record vehicle condition regarding its general state, any damage and to document features or equipment.

Now that you’ve sourced the right vehicles and purchased them, they begin to add up on the lot.  Deploying an inventory management system can help organize, monitor, and drive efficiencies.

Inventory management software goes further than your standard DMS which track the likes of your floor plans and interest costs.   Although a basic feature, tracking vehicle time on lot and turn times is vital reporting data for your operation.  Further to that, most systems will identify the units on the lot that sell fastest, helping you with some marketing and sales decisions.

Good inventory tools will generate templated used vehicle listings that can be syndicated to your website as well as the major listings websites, like Canadianblackbook.com.  Needless to say, this is a major time saver and can bring consistency to the marketing plan.

All of the above are considerations when tooling your used vehicle team with software, however, the most important piece of deploying (any form of) software or technology is the process or workflow.  Quite frankly, it can be a culture shock.  Determining the composition of a dealership’s workflow is the most important task when trying to optimize this system.  If your software solution does not fit or you have to adopt a new workflow to fit the system, then the full feature set and ROI, will certainly not be realized.

The key is training.  I’m not talking about training that shows you to ‘click here and…do that’.  No, proper team training that puts the focus not just on the clicks but ties that back to YOUR process.  Training ensures that all team members understand the functionality and how it can help them day-to-day.

After all, the growth of software within any dealership equates to a cultural shift that’s not always easy.  It’s a cultural shift that we need to embrace, but only if the solutions chosen actually fix existing problems or inefficiencies.  The right software in you used car operation can do both.

The Value – Issue #7: June 2018 Used Vehicle Index Commentary

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:

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The Canadian Black Book (CBB) Wholesale Used Vehicle Retention saw a small decline of 0.4 per cent for June, the first decline since January of this year.  The index remains at a very high level overall and reflects that vehicle retained values are still at some of the highest levels since the tracking began in 2005.  Compared to June of last year the index is still a strong 3.9 percent ahead.

Looking across the segments in greater detail, the Subcompact and Compact Cars have shown impressive growth of 8 per cent and 7.4 per cent respectively since the same time last year.  Subcompact cars are up 0.6 percent from last month alone.  No doubt some higher fuel prices are helping these two segments stay strong.

Compact crossovers continue to strengthen their values, not surprising the Canadian market’s love for this type of vehicle.  The popular segment is up by 4.4% from last year and 0.5% from last month alone.

Mid-size car shows a surprising gain of 7.4 per cent from June of last year, posting one of the biggest year over year increases of any segment, but still down 1.4 per cent from the beginning of the year.

On the negative side of the ledger, full size pickup trucks are down 2.2% from last year and down 0.7% just this month.  Luxury cars are down 1.5% from the same time last year, as are minivans which showed a decrease of 3.9% year to date and 1.3% from last month.

To download the Index for June 2018 CLICK HERE

The Value – Issue #6: May 2018 Index Commentary

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:

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Once again we have hit an all-time record high for the value retention of 2-6 year old vehicles in Canada. The 103.4 mark is the highest level, on average over the 21 segments, we monitor since the index began with 2005 data. The impressive May 2018 mark of 103.4 ties with the new benchmark set last month.

The compact cars segment has set an all time record at 107.1, up 8 points from May of last year and up 0.5 from last month. The sub compact cars segment also had a strong showing, posting a 7.4 per cent gain from last year and a 1.2 per cent gain from last month, placing it amongst the biggest movers. Higher fuel prices could be helping bring some life these two segments.

Full-size pickups were among the biggest gainers this month, with a rise of one point. This is down 2.2 from the same month last year. The full-size pick-up market peaked in August 2016 and since then has dropped off by about 6 per cent. Conversely small pick-ups were up 1.3 per cent, making them one of the stronger segments this month.

Mid-size cars advanced 7.4 per cent from last year and 0.3 from last month, for an all-time record for that segment, despite the fact that consumers continue to shift their preferences to SUVs.

Sporty cars also hit an all-time high, which is not surprising given the overall index and we are entering the prime selling season for this truly fun vehicles.

To download the Index for May 2018 CLICK HERE

The Value – Issue #5: 2018 TalkAUTO Set for November 7 With Registration Opening Mid-June

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:

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Canadian Black Book and J.D. Power together are pleased to announce the upcoming 2018 TalkAUTO, the seventh annual edition.   This year’s highly anticipated event will take place on Wednesday, November 7 at the Universal EventSpace in Vaughan, Ontario.

Registration for around 400 attendees, for the high profile Canadian auto industry conference, is set to open in mid-June.   TalkAUTO has grown into a top-tier networking destination for Canada’s auto industry key influencers and decision makers, who include many dealers, OEM executives, industry suppliers, finance and banking experts, trade media and more.

For 2018, the theme for TalkAuto is ‘Who Moved My Keys? Adapting to Change in a New Marketplace’, a play on the popular motivational business fable and New York Times Bestseller – ‘Who Moved My Cheese’.

An impressive line-up of guest and keynote speakers will support this year’s theme, headlined by Sheryl Connelly, manager of Global Consumer Trends and Futuring, Ford Motor Company.  Serving as Ford’s Futurist now for over a decade, and well known for identifying global trends and how they might impact the auto industry, she will certainly provide the TalkAUTO audience with an informative and memorable address.

“Each year, now our seventh, TalkAUTO gains credibility as a must attend event,” says Brad Rome, President at Canadian Black Book.  “Attracting a high profile speaker like Sheryl Connelly is a testament to how this event is perceived by the industry.”

“Last year’s event was an overwhelming success and our conversations since that day, with dealers, OEMs and industry people alike all point towards another exciting and enlightening day for Canada’s auto sector,” says J.D Ney, Country Manager, Canadian Automotive Division, J.D. Power.

Organizers urge you to keep the November 7th date saved and look out for the opening of registration in Mid-June. As in previous years, if history is any indication, seats will fill quickly.

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For additional comments or more information, please contact:

Conrad Galambos
Media Relations
Canadian Black Book
905-979-7039
cgalambos@canadianblackbook.com

The Value – Issue #4: March’s Used Vehicle Retention Index

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:

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The Canadian Black Book Used Vehicle Retention Index for March 2018 index tied the all time high set back in December 2017 of 103.0. The industry wide wholesale value index is up by +3.2% from the same time last year, and up +0.5% from last month’s mark.

CBB Used Vehicle Retention Index - March 2018
March 2018 Canadian Black Book Used Vehicle Retention Index

This Index serves to offer unbiased and accurate insights and statistics regarding the health of the used wholesale vehicle market in Canada.

It is important to note that the Canadian dollar started the month at just under 78 cents, but then it promptly fell to 76.5 cents.  The weaker dollar helped to keep Canadian vehicles affordable for export for at least a portion of yet another month.

Looking though the various segments the biggest value gainers from last year are compact cars (+7.8%) and mid-size cars (+6.5%).  The most significant increases from last month are compact crossover/SUV and full -size car which are both up +1.8% from February.

On the loss side the full-size pickups show some softening at -1.9% and minivans at -4.7% compared to March of 2016.  The full-size crossovers, luxury cars and full-size vans shared the same decline of -0.6% since last month’s index.

The Canadian Black Book Used Vehicle Retention Index is calculated using Canadian Black Book’s published Wholesale Average value on two- to six-year-old used vehicles, as a percent of original typically-equipped MSRP. Canadian Black Book’s Wholesale Average is a benchmark value for used vehicles selling in the wholesale auctions with the vehicle quality in average condition. The index is weighted based on used vehicle sales volume and adjusted for seasonality, vehicle age, mileage, condition, and inflation (MSRP).

Aggregated from daily vehicle value updates, and captured throughout thousands of wholesale vehicle transactions across the country, the Canadian Black Book Used Vehicle Retention Index represents data across all regions of Canada. The Index is based on a comprehensive list of vehicles included in the Canadian Black Book wholesale database, and includes no bias toward any brand, data source or region, ensuring an accurate report of the used vehicle market.

The Index is posted monthly on https://blog.canadianblackbook.com/ and distributed to automotive media for wider industry consumption.

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CLICK HERE TO DOWNLOAD THE FEBRUARY 2018 CANADIAN BLACK BOOK USED VEHICLE RETENTION INDEX (PDF)

For interview requests or more information, please contact:
Conrad Galambos, 905-979-7039, cgalambos@canadianblackbook.com

The Value – Issue #4: CBB Connect is New and Improved

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:

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Canadian Back Book is proud to introduce the all new and enhanced CBB Connect.  Phase 1 went live earlier this year with a more contemporary design and improved functionality. Phase 2 is now ready to launch with new features that truly make this an end-to-end remarketing solution. The new interface is easy to use and boasts cross-device sync, proprietary CBB industry data, local market insight, a vehicle appraisal tool with a new VIN scanner, and much more.

To learn more about the newly upgraded CBB Connect, see the video above and contact us at 800-562-3150 to upgrade today.