LAWRENCEVILLE, Ga. -

Black Book’s Used Vehicle Retention Index for May dipped both on a sequential and year-over-year basis.

With four car segments sustaining drops, the May index reading came in at 112.3, which was down by 0.7 percent from the April mark of 113.1. The May reading also represented a 5.6-percent decline versus the same month last year.

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. Black Book insisted the index offers “an accurate, unbiased view” of the strength of today’s used wholesale market values.

The Index showed a decline as car and truck segments saw increased depreciation in May following a strong spring selling season during April. The Index saw a slight bump from 113.0 in March to 113.1 in April, the first time the Index saw an increase dating back to January 2015.

The firm explained several car segments saw noticeable declines in the Index from the previous month. Sub-compact cars fell 1.6 percent while full-size cars dropped 0.7 percent. Mid-size cars edged 0.6 percent lower while and sporty cars dropped by 1.0 percent.

Conversely, Black Book noticed premium sporty cars rose 0.4 percent.

On the trucks side, Black Book determined small pickups increased 0.5 percent from the previous month. While full-size luxury utilities ticked up just 0.1 percent, full-size pickups held steady, according to Black Book.

“There is not a lot of surprise in the May numbers, particularly after seeing arguably the strongest spring-season lift on record over the last three years in April,” said Anil Goyal, senior vice president of automotive valuation and analytics for Black Book.

“It is expected that we will see more declines in the Index in the months ahead as we move deeper into the year, particularly driven by softness among car segments,” Goyal continued.

The index dates back to January 2005, where 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 by lost 6.4 percent.

During 2011, the index rose strongly from 113.3 to 123.0 by the end of the year as economy picked up steam and used-vehicle values rose higher. It continued to remain relatively stable, rising slightly till May of 2014 when it hit a peak of 128.1.

To obtain a copy of the latest Black Book Wholesale Value Index and chart, click here.