Canadian Black Book has released its latest Used Vehicle Retention Index for October 2024, which sat at 136.0 points — the same as for August and September, and down 12.4% year-over-year.
“(A) weakening Canadian dollar relative to the U.S. dollar has been stabilizing Canadian wholesale values as arbitrage has been causing opportunities for exporters,” said David Robins, Senior Manager and Head of Canadian Vehicle Valuations at Canadian Black Book, in a statement.
CBB said the index peaked in 2022 after reaching 165 points. It then experienced unprecedented growth in used values from late summer 2020, when the index was as low as 100.5 points before numbers lifted.
As a reminder, CBB calculates its Used Vehicle Retention Index using its published Wholesale Average value on two- to six-year-old vehicles, as a percent of original typically equipped MSRP.
