LAWRENCEVILLE, Ga.—The latest report from Black Book supports predictions that used vehicle values will slide more quickly in 2019.
The company’s Used Vehicle Retention Index, a measure of the strength of used vehicle market values, declined in January from December’s level. The Index has now fallen for two months in a row.
January’s Index level of 115.4, is a 0.7% decline from December (116.3).
The Index decline was nearly across-the-board for almost all segments, stated Black Book, with only compact and mid-size cars showing modest gains (+0.11% and +0.03%, respectively).
There were a number of segments with over -1.0% declines, including minivan, small pickup, mid-size and full-size luxury CUV/SUV, sporty car, sub-compact car, near luxury car, and compact crossover SUV.
“After a strong performance in 2018, the Index has now declined for two straight months. We believe this could be a pre-cursor to a 2019 market that may show slightly larger depreciation overall compared with that in 2018,” said Anil Goyal, executive vice president, operations. “It is interesting to note that used sedans are still in demand highlighting the affordability concerns of vehicle ownership.”
To obtain a copy of the latest Black Book Wholesale Value Index click here.