LAWRENCEVILLE, Ga.–Used vehicle values were flat in December, Black Book reports.
The company’s Used Vehicle Retention Index for December remained flat at 140.3 from November 2025, which is 5.2% below where it was at the same time in 2024.
“After steep declines in late October and throughout November, depreciation slowed in December, returning to normal seasonal patterns and resulting in a flat Index reading for the month,” said Laura Wehunt, vice president of data and analytics at Black Book. “To close out 2025, many larger independent dealers were actively purchasing units, signaling optimism for the start of 2026.”
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.