Used-vehicle valuation and forecast solutions provider Black Book (div. Hearst) released its Used Vehicle Retention Index for July, showing no change from June, when the index improved to 115.
Gains were reported in the compact crossover (0.82%) and sporty car (0.48%) segments; higher losses were reported among full-size luxury SUVs (-0.88%) and luxury cars (-0.46%).
“While the July Index is flat to the previous month, the segment breakdown shows very clear trends within segments,” said Anil Goyal, Black Book’s executive vice president of operations. “Non-luxury crossovers enjoyed the largest gains, while luxury cars and luxury SUVs had the largest losses.”
The Black Book Used Vehicle Retention Index is calculated using Black Book’s published Wholesale Average value on two- to six-year-old used vehicles, as percent of original typically equipped MSRP. It is weighted based on registration volume and adjusted for seasonality, vehicle age, mileage, and condition.
To read the July report, click here.
This story originally appeared on F&I and Showroom, another Bobit Business Media publication.