LAWRENCEVILLE, Ga.—Used car values declined for the third month in a row in September.
Black Book’s Used Vehicle Retention Index for September decreased 4.1% (7.5 points) to 176.5 from August. The Index currently stands 4.1% above where it was at the same time in 2021 and 54% above March 2020, pre-pandemic, Black Book said.
“Wholesale prices for the two-eight-year-old vehicle segments that comprise of Black Book’s Used Vehicle Retention Index declined even further in September, falling close to 1% per week,” said Alex Yurchenko, chief data science officer at Black Book. ”These declines are nearly universal (except for the van segments) and unseasonably high. We expect wholesale prices to continue their decline through the last quarter of 2022 at a slightly lower rate compared to September. Used retail prices also began modest declines in the last several weeks.
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.
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