Canadian Black Book released its Used Vehicle Retention Index for July 2025 showing it at 138.5 points, whereas in June it was at 139.1. Year-over-year, the index increased by 2.3 per cent.
“As tariffs continue to dominate the news cycle, the Canadian wholesale market slowed in July,” said David Robins, Senior Manager and Head of Canadian Vehicle Valuations at CBB, in a statement.
He added that “Seasonal summer demand, domestic demand influenced by uncertainty, and U.S. export demand have caused the Used Vehicle Retention Index to continue declining since its 2025 high in April.”
CBB said its index peaked in March of 2022 at 165 Index points. Before that it experienced a run of “unprecedented growth” in used values as of late summer of 2020, back when the Index was as low as 100.5 points.
The index is calculated using CBB’s 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,” said CBB.
