Canadian Black Book’s Used Vehicle Retention Index edged down in October, falling to 137.0 points from 138.0 in September. The index remains 0.8 per cent higher than the same month last year.
David Robins, senior manager and head of Canadian vehicle valuations at Canadian Black Book, said slower domestic and export demand is putting pressure on values.
“One of the larger month-over-month declines this year in the Used Vehicle Retention Index occurred in September,” said David Robins, Senior Manager and Head of Canadian Vehicle Valuations at Canadian Black Book, in a statement. “Economic pressures continue to push values down faster as both domestic and export demand slow.”
The index peaked at 165 points in March 2022, following a sharp rise that began in late summer 2020 when it stood at 100.5 points.
Canadian Black Book calculates the index using wholesale average values for two- to six-year-old vehicles, expressed as a percentage of their original manufacturer’s suggested retail price. It is weighted by registration volume and adjusted for seasonality, age, mileage and condition.
The benchmark was first published in January 2005 with a base value of 100.
