Canadian Black Book’s Used Vehicle Retention Index increased marginally in November, resting at 136.2 points compared to 136.0 in August, September, and October. Year-over-year, however, the index decreased -9.4%.
“The Canadian market remains relatively stable heading towards the holiday season,” said David Robins, Senior Manager and Head of Canadian Vehicle Valuations at Canadian Black Book, in a statement. “The weakening Canadian dollar continues to provide additional demand for vehicles at auction.”
In an update, CBB said the index peaked in March of 2022 at 165 points. Prior to that they said there was a run of unprecedented growth starting in late summer 2020, when the index was much lower — at 100.5 points.
CBB’s Used Vehicle Retention Index is calculated using its published Wholesale Average value on two to six-year-old used vehicles, as a percent of original typically equipped MSRP. “It is weighted based on registration volume and adjusted for seasonality, vehicle age, mileage, and condition,” they said.
The index dates back to January 2005, when CBB published a benchmark index value of 100.0 for the market.
