The Black Book April Retention Index broke yet another record, reaching 152.4 points.
There were 4 months of typical seasonal decline in prices, resulting in a relatively flat seasonally adjusted index.
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’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 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.
The spring selling season got off to an early start, leading to a slight month-over-month uptick in the firm’s Used Vehicle Retention Index. The big question is how the harsh weather that has recently struck parts of the country will impact values moving forward.
The last remaining replacement activity stemming from hurricanes Harvey and Irma drove continued vehicle value stability and shopping demand in October, with the firm’s index rising to 114.6 in October.
Fueling the increase was vehicle replacement activity related to Hurricane Harvey, which began last month. According to Black Book, compact cars, compact crossover SUVs, full-size cars, and mid-size cars each realized significant month-over-month increases within the index.
The index has remained unchanged or moved positive in three of the last four months, according to officials. Posting noticeable gains in their respective segment indexes were full-size cars, full-size pickups, luxury cars, and near-luxury cars.
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