Black Book’s Used Vehicle Retention Index for the U.S. declined in April for the fifth consecutive month — but it’s still higher than it was a year ago.
Data shows that the index was at 113.6 in April, which is 0.2 per cent less than what it had achieved in March. However, the index in April is still 1.4 per cent higher than it was during the same period in 2018 — when it sat around 112.0.
“That the Index has declined for five straight months and it is still slightly higher than where it was a year ago is a testament to the sheer strength in the market we saw throughout 2018,” said Anil Goyal, Executive Vice President, Operations. “Much of the 2018 activity was spurred by economic strength, resulting in significant demand for affordable used sedan values. It will be difficult to replicate that activity over the remainder of 2019.”
Black Book said the index reflected a late start to the spring selling season, declining every month since November 2018.
SUV and luxury vehicles experienced the most significant declines in March, while minivans (+0.5 per cent), compact cars (+ 0.7 per cent), mid-size cars (+0.3 per cent), and small pickups (0.3 per cent) managed modest gains.
“Market share changes reflect a continued shift away from cars and toward more SUVs and Pickups,” said Black Book.
The full list of increases by segment:
- Compact Crossovers — 1.1%
- Sporty Car — 0.8%
- Compact Cars — 0.7%
- Subcompact Car — 0.6%
- Full-size Pickups — 0.5%
- Minivan — 0.5%
- Full-size Crossover/SUV — 0.4%
- Full-size Luxury CUV/SUV — 0.4%
- Mid-size Car — 0.3%
- Mid-size Crossover/SUV — 0.3%
- Small Pickup — 0.3%
- Full-size Car — 0.1%
For more details, see the chart below:
