LAWRENCEVILLE, Ga.—Used vehicles in September held their values better than they have in the last two years, according to a new report.
Black Book’s Used Vehicle Retention Index for September stood at 116.0, a +1.9% increase over the last 12 months (113.9) and a +0.5% since August (115.5).
September’s Index mark of 116.0 last reached the same level in October of 2016, Black Book reported.
“What’s more, the Index was up for all segments ranging from +0.26% (small pickups) to +1.82% (sporty car),” Black Book said.
The five segments with the largest overall impact in the increase for the September index are:
- Compact crossover/SUV: +0.89% month over month (MOM)
- Mid-size crossover/SUV: +0.89% MOM
- Compact Car: +0.89% MOM
- Full-size pickup: +0.73% MOM
- Mid-size car: +0.64% MOM
How Numbers Are 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.
“The Index ratings over the last few months are a clear indication of the strength that has been present throughout the used vehicle market in 2018,” said Anil Goyal, executive vice president, operations. “What’s interesting this month is the broad strength in the market across all vehicle segments. It is unlikely for the Index to maintain this upward momentum, as we get to the end of the year when typical depreciation patterns are expected to set in.”