LAWRENCEVILLE, Ga.—Used car values kept the foot on the brake in November, but this time with a little bit of easing, Black Book reported.
The company’s Used Vehicle Retention Index in November decreased 1.6% (2.8 points) to 171.4 from October, which is 9.7% below where it was at the same time in 2021 and 49.6% above March 2020, pre-pandemic.
“Wholesale prices for the two- to six-year-old vehicle segments that comprise of Black Book’s Used Vehicle Retention Index continued to decline in November, although the rate of decline is smaller compared to the previous two months,” said Alex Yurchenko, chief data science officer at Black Book. “With uncertainty in the economy and weaker used retail demand, we started to see declines in retail listing prices, although not at the same rate as wholesale prices. We expect used prices—both wholesale and retail—to continue to drop through December and into the new year as new inventory levels will continue to improve.”
How Index is Calculated
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.
Just in Time for the Holidays, CUToday’s Free Morning Headline Email is Now Double-Free!
Don’t forget to check your Spam/Junk email folder if you haven’t been receiving your free, popular and daily CUToday.info news headlines.
And if you haven’t yet signed up for the new email solution on which CUToday.info has partnered with ResponseGenius, you can do so here. Signing up requires less than one minute of your time.
CUToday.info has received very positive response from readers following the move to an improved provider of the daily headlines, but many also noted they did need to go to their Spam/Junk folder and mark it as safe.
The new email solution has not only improved every reader’s delivery experience, but it also features a fresh, new format that is easy to read, especially on mobile devices.
Please note and/or make your IT department or email administrator aware the emails will be coming from the domains CUTodayinfo.com and CUTodayinfoReply.com.