A strong showing from the subcompact car segment drove up used vehicle values in July, bumping up the Black Book Used Vehicle Retention Index 0.5% to 113.9, according to a company announcement.
Sporty, premium, compact, mid-size, and full-size car performance was also strong, gaining 0.5% in value through the month. Full-size pickups and full-size luxury SUV segment values declined.
“The Black Book Index strength over the last year is a clear reflection that there is strong demand for many segments of used vehicles – particularly for cars,” said Anil Goyal, executive vice president, Operations. “While we are forecasting typical seasonal depreciation pattern through the remainder of the year, dealers and remarketers should continue to see increasing sales volume on used vehicles, driven by continued employment growth and high consumer confidence.”