Last year gave way to several best-ever months for retained values — positioning 2019 as the strongest year yet, even as December ended with a small month-over-month decline, according to Canadian Black Book.
November 2019 was a record-setting month for retained values, with the index hitting 108.5. December’s slight dip brought it to 108.4, which is a mere 0.1 point off the index from the previous month.
“It is safe to say that 2019 was the strongest year for retained values for 2-6 year old vehicles since we began the index with 2005 data,” said Brian Murphy, VP Research & Analytics for Canadian Black Book. Compared to December 2018, the index across the industry increased 8.6 per cent, said CBB.
Broken down by segment (and starting with the least positive news), the highly competitive compact CUV/SUV declined 4 points YOY, and 1.3 per cent from November 2019. Luxury cars were down 6 points YOY, and did not experience a strong MOM in December. Small pick-up trucks declined 7.2 points YOY and 1.2 points MOM.
“The market for full-size pickup trucks has also experienced losses for December and is down by 2.3 points from November, a very significant decline for such an important segment here in Canada,” said CBB.
The positive news is that the compact car and subcompact car segments are doing well, with compact cars up 8.6 points YOY and half a point from last month. Subcompact cars are also up, significantly, by 11.9 points YOY — “the strongest in the industry.” The segment is also 0.9 points up from last month.
“Both segments had some weakness in 2014-2016, but since have continued to strengthen,” said CBB.
