Canadian Black Book’s Used Vehicle Retention Index for December 2021 broke records after reaching a new high of 158.5 index points—up 5.9 points from the previous record set in November 2021.
According to the company, there was a year-over-year growth of 42.2% from December 2020 to December 2021. The previous November 2021 record had a YOY growth of 38%.
As CBB notes, “To put this meteoric rise of wholesale values into perspective, from December 2005 to December 2020, the index grew by a total of 13% and in just the last 12 months it has grown by over three times that amount.”
Month-over-month, CBB said the index grew by 3.9% since November 2021, and that 17 out of the past 18 months saw MOM increases in average retained values, which occurred industry-wide. Within that time frame, CBB recorded fifteen record months.
“It has truly been surreal to watch this index, which in its first 15 years grew by 13% and to witness what has happened in 2021,” said James Hancock, Director of OEM Strategy and Analytics at Canadian Black Book. “Given where we were in the spring of 2020, this rapid ascent of wholesale values could not have been forecast and has eclipsed all expectations.”
The segments with the highest value increase for December 2021 are compact vans (up 14.82% MOM and 64.66% YOY), subcompact cars (up 9.46% MOM), and full-size vans (up 9.31% MOM).
