Black Book: Used Values Hit 3-Month Skid
Analysts say a late start to the spring selling season could be to blame for a third consecutive monthly decline in Black Book’s Used Vehicle Retention Index.
Residual values for pre-owned subcompacts such as the 2016 Fiat 500L declined by an average of 2.29% in February, according to Black Book’s latest report.
Photo courtesy Fiat Chrysler Automobiles
LAWRENCEVILLE, Ga. — Used-vehicle valuation and forecasting provider Black Book (div. Hearst) released its Used Vehicle Retention Index for February. The index fell 0.8% to 114.5, a third straight monthly decline that completes a full percentage point loss over the last 12 months.
Only the full-size van segment (up 0.56%) showed improved retention in February, analysts said. Luxury segments showed the largest declines, led by midsize luxury SUVs and CUVs (-2.13%). Residual values for subcompact cars (-2.29%) fared worst of all.
“The start of the spring selling season appears to be late this year, perhaps from slower and smaller tax refunds this year, as well as the harsher-than-normal winter weather patterns across much of the country, said Anil Goyal, executive vice president of operations for Black Book. “March should be a very telling month not only for spring, as it may likely set the tone for the remainder of the year.”
To read Black Book’s complete February report, click here.
Originally posted on Auto Dealer Today
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