Another major wholesale market index is showing consistency through the first two months of 2018.
While the Manheim Used Vehicle Value Index remained unchanged from January to February, the Black Book Used Vehicle Retention Index edged only slightly higher year-over-year.
Black Book released its index on Thursday and reported just a slight uptick to 113.3 compared with January reading of 113.1. The index has now softened by only 0.5 percent during the past 12 months.
The Black Book Used Vehicle Retention Index is calculated using Black Book’s published Wholesale Average value on 2- to 6-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.
Black Book explained the February Index value is reflecting the slight bump from early spring selling season activity this year. Several car segments in particular saw increases during the month.
Compact cars and subcompact cars each rose 1.6 percent. Mid-size cars ticked up 1.2 percent, and full-size cars edged 0.4 percent higher.
“There were few surprises in how the Index responded this past month, especially given the early spring selling activity, particularly in non-luxury car segments over the last few weeks,” said Anil Goyal, Black Book’s executive vice president of operations.
“The biggest question at this point is how long the spring selling season will last given the harsh weather that has recently hit parts of the country, and whether or not any of this buying activity will reach certain truck segments,” Goyal went on to say
The index dates back to January 2005 when Black Book published a benchmark index value of 100.0 for the market. During 2008, the index dropped by 14.1 percent while during 2016, the index fell by just 6.4 percent.
During 2011, the index rose strongly from 113.3 to 123.0 by the end of the year as the economy picked up steam and used vehicle values rose higher. It continued to remain relatively stable, rising slightly until May of 2014 when it hit a peak of 128.1.
To obtain a copy of the latest Black Book Wholesale Value Index, go to this website.