Used-Vehicle Retention Shows First Decline Since May
Black Book’s Used Vehicle Retention Index ticked downward for the second time in December, but seasonal declines weren’t enough to derail the key metric’s largest annual improvement since 2012.
Pre-owned mid-size cars such as the seventh-generation Toyota Camry were up by 0.55% in Black Book’s December Used Vehicle Retention Index, leading all categories at the end of 2018.
Photo courtesy Toyota Motor Sales USA Inc.
LAWRENCEVILLE, Ga. — Black Book (div. Hearst)’s Used Vehicle Retention Index fell to 116.3 in December, declining from November (116.5) for only the second time in 2018. But the index improved by 1.9% for the year, the largest year-over-year increase since 2012.
Leading the gains were mid-size cars (0.55%), mid-size luxury SUVs and CUVs (0.31%), and compact luxury SUVs and CUVs (0.29%). The biggest losers were minivans (-1.6%), full-size luxury SUVs and CUVs (-1.54%), and full-size vans (-1.3%).
“The segments showing the greatest gains and declines in the Index this month were a mix of car and truck segments,” said Anil Goyal, Black Book’s executive vice president of operations. “This is certainly the time of year when we see declines ahead of the spring selling season. However, the decline in December was higher than typical seasonality, thus a slight decline in the Index. Given the current economic conditions, demand for used and new vehicles remains strong, but there is a cloud of uncertainty as we start 2019.”
To read Black Book’s 2018 report in its entirety, click here.
Originally posted on Auto Dealer Today
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