The Canadian Black Book Used Vehicle Retention Index has declined slightly, by 0.4 per cent, for the month of June. This is the first decline since January 2018, according to a CBB news release.
That being said, the index remains at a “very high level” overall, and is still ahead by a strong 3.9 per cent compared to the same period a year earlier.
In terms of segment gains, subcompact and compact cars experienced a growth of 8 per cent and 7.4 per cent respectively, since June 2017. Subcompact cars jumped 0.6 percent from the previous month, possible due to higher fuel prices — which seem to be helping the two segments remain strong. Compact crossovers, a popular segment in the Canadian market, is up 4.4 per cent from 2017 and 0.5 per cent from May 2018.
As for mid-size car, this segment experienced a surprising 7.4 per cent boost from June of last year. It also posted “one of the biggest year-over-year increases of any segment,” said CBB, even as the segment is still down 1.4 per cent from the beginning of 2018.
On the downside, full-size pickup trucks have declined 2.2 per cent from a year earlier, and are down 0.7 per cent as of June 2018. Luxury cars too are down, 1.5 per cent from the same period in 2017, along with minivans — which dropped 3.9 per cent year-to-date and 1.3 per cent from May 2018.
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