MARKHAM, Ontario -

A slight dip in the Canadian Black Book Index arriving in December did little to take away from the record-setting year for the wholesale price measurement.

Coming off the record of 108.5 being set in November, Canadian Black Book reported this week that the index edged just 0.1 point lower in December to land at what it called a “very respectable” reading of 108.4. 

“It is safe to say that 2019 was the strongest year for retained values for 2- to 6-year-old vehicles since we began the index with 2005 data,” said Brian Murphy, vice president of research and analytics for Canadian Black Book.

Compared to December of 2018, CBB indicated the index across the industry is up 8.6%, which shows the magnitude of gains prices have seen over the last 12 months. 

Analysts added, “2019 has been most certainly a bull market here in Canada.”

Surveying the numerous segments of the market shows a number of interesting observations, according to Canadian Black Book. For instance, analysts noted the compact CUV/SUV segment is down 4 points from last year. 

“With more selection and supply this segment is one of the most competitive in the marketplace,” said analysts, who mentioned that this popular segment is also off 1.3 points from November. 

CBB determined luxury cars did not have a strong December with the segment softening by 6 points versus December of 2018.

Analysts noted small pick-ups are also a noteworthy decliner in December with a loss of 7.2 points from a year earlier and 1.2 points from the previous month.

Canadian Black Book went on to state the market for full-size pickup trucks also experienced losses in December, dropping by 2.3 points from November. Analysts called it “a very significant decline for such an important segment here in Canada.”

On the positive side of the equation, CBB said compact cars and subcompacts cars are performing very well.

Compact cars are up 8.6 points from the same time a year earlier and half a point from November. Subcompact cars jumped “an impressive” 11.9 points year-over-year, the strongest move in CBB’s latest update.

“Both segments had some weakness in 2014-2016 but since have continued to strengthen,” analysts said.