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Black Book and Autodata Solutions announced the launch of As-Built Valuation Service, a collaborative effort that integrates Black Book’s vehicle valuation data into Autodata’s ChromeData platform.
Black Book has unveiled Asset Verification Tool, a proprietary VIN-level identifier designed to help auto finance sources reduce the risk of fraud at loan origination.
Black Book and Drivably have partnered to pair the former’s data and analytics expertise with the latter’s AI and machine learning platform to enhance dealer inventory acquisition recommendations.
Black Book’s Used Vehicle Retention Index registered its first monthly gain of the year, ticking up to 114.4 in May. But analysts warn waning demand could follow a strong end to the spring selling season.
Black Book’s Used Vehicle Retention Index registered at 113.6 in April, 1.4% higher than it was a year ago but 0.2% lower than in March.
Black Book and Fitch Ratings’ annual used-vehicle depreciation and auto ABS report predicts a 15% depreciation rate for U.S.-registered vehicles, up from 12.4% in 2018.
Black Book’s Used Vehicle Retention Index slipped again in March but showed a 1.7% year-over-year gain heading into April, when analysts expect the spring selling season to begin in earnest.
The integration of Black Book’s data is expected to help Lightspeed EVO users realize stronger profit potential with a more precise valuation process for trade-in motorcycles and powersports vehicles.
The firm’s Used Vehicle Retention Index for September increased by 1.9% from a year ago to 116, with all vehicle segments showing increases. The compact crossovers, mid-size crossovers, compact car, full-size pickup, and mid-size car segments were the main drivers.
Defi SOLUTIONS is the first loan origination platform to include Black Book’s History Adjusted Valuations data feed. Users can now identify undesirable deals prior to the origination process, improve advance amounts, prevent fraud, and use HAV to set floors more accurately when remarketing.