Canadian Black Book has released its first Used Vehicle Retention Index for Canada, complete with neutral commentary on the pricing trends, the company said in a news release.
The index is meant to provide industry professionals and watchers with “unbiased and accurate insights and statistics” regarding the health of the Canadian used wholesale vehicle market.
“We’ve used this type of index data internally for many years, and are now packaging it up to provide Canada’s auto industry a free monthly resource to help monitor the ongoing vital signs of used vehicle pricing domestically,” said Brad Rome, President of Canadian Black Book. “This information is impartial to any brand, and can help guide decision makers with accurate figures regarding the strength or weakness of used vehicle prices.”
The information is calculated using the company’s Wholesale Average value on two- to six-year-old used cars, “as a per cent of original typically-equipped MSRP,” Canadian Black Book said. It’s based on an extensive list of vehicles from the Canadian Black Book wholesale database, and is expected to provide a closer look into trends, year-over-year and month-over-month comparisons, and pricing performance dating as far back as 2005.
“We are always being asked about the overall state of used vehicle value retention, which we are happy to answer. This new regularly published index will just make it easier and provide a more visual means to get those answers and see the direction of prices in Canada,” says Brian Murphy, Vice President Research and Editorial, Canadian Black Book.
The inaugural edition, which covers the month of November, will illustrates the effects of the economic difficulties of 2008-2009. The information will be posted on the Canadian Black Book website every month.
To view the first index, click here.
