LAWRENCEVILLE, Ga.—Following a strong run through most of 2020, depreciation on used vehicle values accelerated in October, Black Book is reporting.
The company’s Used Vehicle Retention Index for October 2020 (129.9) showed a -0.9 point change from September (130.8).
“The Market Level Index decreased slightly in October,” said Alex Yurchenko, senior vice president, data science. “Without the strength in the full-size pickup segment, the market level decline would’ve been significantly sharper. We project the continuation of weakening of most of the segments, including full-size pickups, in the next several months as the economy remains weak and there is an expected glut of used supply.”
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 obtain a copy of the latest Black Book Wholesale Value Index, click here.