Canadian Black Book’s Used Vehicle Retention Index now sits at 158.0 points for March 2023 — up slightly, when compared to last month’s 157.9 points.
“The Canadian wholesale market continues to show overall stability as the economy continues to show strength and the U.S. wholesale market heats up,” said David Robins, Principal Automotive Analyst and Head of Canadian Vehicle Valuations at Canadian Black Book, in a statement.
Last month, the index reached 157.9 points, representing a MOM change of -0.2 per cent and YOY change of -3.5 per cent. In January, the index was at 158.2 points, representing a MOM change of 0.4 per cent and a YOY change of -0.2 per cent. Now in March, the index is up ever so slightly to 158.0 points.
“The Index peaked in March of 2022 at 165 index points. Preceding the March peak was a run of unprecedented growth in used values beginning in the late summer of 2020, when the Index was as low as 100.5 points,” said CBB in its update.
All but three segments experienced growth MOM, including minivans (+5.49 per cent), compact crossovers/SUVs (+4.16 per cent), and sub-compact crossovers (+3.48 per cent). The three that experienced a decline are compact vans (-0.86 per cent), full-size vans (-0.10 per cent), and prestige luxury cars (-0.05 per cent).
The latter managed the largest YOY decrease at 16.40 per cent, while the highest YOY increase was full-size vans at 1.71 per cent.
