LAWRENCEVILLE, Ga. — Black Book (div. Hearst) released its Used Vehicle Retention Index for October. The index fell from September’s 115.9 to 115.6, a -0.33% change.
Remarkably, light truck segments — including pickups, SUVs, and CUVs, saw values decline at faster rates than many car segments, some of which improved. Sporty cars (0.43%), compact cars (0.34%) and mid-size cars (0.22%) were the biggest gainers. Near the bottom of the list were mid-size SUV and CUVs (-0.89%), full-size pickups (-1.3%), and small pickups (-1.59%).
“In the last couple of years, the used vehicle values held up unusually high till late in the year. However, the market trend this year is consistent with typical seasonality patterns,” said Executive Vice President of Operations Anil Goyal. “Interestingly, the truck segments are now seeing larger declines as opposed to sedans. As supplies of used crossovers and pickup trucks continue to increase, the demand will need to be stronger for values in these segments to stay stable.”
The Black Book Used Vehicle Retention Index is calculated using Black Book’s published Wholesale Average value on two- to six-year-old used vehicles, as percent of original typically equipped MSRP. It is weighted based on registration volume and adjusted for seasonality, vehicle age, mileage, and condition.
To access the October report, click here.