LAWRENCEVILLE, Ga.—Black Book reported its Used Vehicle Retention Index declined in April, signaling softening wholesale values as the spring market lost some momentum late in the month.
The seasonally adjusted index fell 0.7% to 146.6 from 147.7 in March and was down 1.8% from April 2025 levels, according to the company, which tracks used-vehicle values as a percentage of original MSRP.
“April’s retention results reflect a market that remained seasonally resilient but became more selective as the month progressed,” said Laura Wehunt, vice president of data and analytics. “Early spring demand and tax-season activity supported values, but that momentum softened by month-end as buyers placed greater emphasis on vehicle quality, configuration, and retail readiness. Trucks and SUVs continued to provide relative stability, while cars faced more pressure, resulting in a modest month-over-month decline in the Black Book Used Vehicle Retention Index.”
Black Book said the index reflects pricing on two- to six-year-old vehicles, adjusted for factors such as age, mileage, condition and registration volume, offering a benchmark for lenders and financial institutions tracking collateral values in auto portfolios.
The April pullback suggests a more selective buying environment, with stronger performance in trucks and SUVs helping offset broader pressure on passenger cars as the market transitions out of peak seasonal demand.