Wholesale values held strong in May, registering a 112.9 in Black Book's Used Vehicle Retention Index. A stable used market, the company noted, kept values high during a month where wholesale values typically dip.
The 112.9 Index score represents a 0.8% increase from the previous month. In the last 12 months, Black Book's Index has risen by 0.6%.
“The used vehicle market is clearly benefitting from strong employment and consumer confidence currently with many segments of both cars and trucks, large and small, seeing valuation strength over the last several months,” said Anil Goyal, executive vice president, operations. “After spring season, we typically see a decline in values in May. However, this year the used market is fairly stable, resulting in an uptick in our seasonally-adjusted Index.”
In total, 15 vehicle segments saw positive or unchanged results within the Index, Black Book noted. Subcompact cars and compact crossovers/SUVs were up 1.7%, full-size cars were up 1.2%, and sporty cars were up 1.0% through May.
Black Book’s Used Vehicle Retention Index is calculated using Black Book’s published wholesale average value on two- to six-year-old used vehicles as a percent of their original typical-equipped MSRP. The Index offers a view of how those used vehicle values change through the years.