LAWRENCEVILLE, Ga.—For the second consecutive month, used vehicle values increased, according to Black Book's Used Vehicle Retention Index for September.
The seasonally adjusted Index last month increased 0.2% (0.3 points) to 146.3 from August (146.0), which is 8.2% below where it was at the same time in 2023.
“Throughout September, the market remained stable, with increasing values in many mainstream segments. Although incentives have risen, limited supply, due to record low leasing three years ago, has kept the market steady,” said Laura Wehunt, VP of analytics at Black Book. “As we enter the fourth quarter, we’re closely monitoring several market impacts, including the aftermath of Hurricane Helene’s flooding, the port workers’ strike affecting ports on the East Coast and Gulf, and changes in interest rates, among other potential disruptions.”
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.