LAWRENCEVILLE, Ga.—For the first time in several months used vehicle values declined, Black Book reported.
Black Book’s Used Vehicle Retention Index for June decreased 0.9% (1.3 points) to 148.1 from May 2025 (149.4), which is 1.0% above where it was at the same time in 2024.
“Following the tariff-driven surge in consumer purchasing during April and May, the market began to stabilize in June, with wholesale values steadily declining throughout the month,” said Laura Wehunt, vice president of data and analytics at Black Book. “Although the market avoided the extreme volatility seen in recent years, the declines surpassed typical seasonal depreciation rates, resulting in a drop in the Black Book Index for June. However, when looking at the Index on a year-over-year basis, the Index is up 1% compared to 2024.”
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.