Overall used vehicle values were strong in September, and five key segments played a key role in that strength, according to Black Book’s monthly Used Vehicle Retention Index.
The five segments with the biggest impacts to overall values for the month were compact crossovers/SUVs; mid-size crossovers/SUVs; compact cars; full-size pickups; and mid-size cars. Respectively, values for these segments were up 0.89%, 0.89%, 0.89%, 0.73%, and 0.64% month-over-month.
The strong showing from these, and other, segments helped the Used Vehicle Retention Index for September reach 116.0. This figure represents a 1.9% increase year-over-year and a 0.5% increase month-over-month.
“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 for Black Book. “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 patters are expected to set in.”