MARKHAM, Ontario -

Not only did Canadian Black Book’s Used Vehicle Retention Index reach another record high in November, the month-over-month and year-over-year increases in the index were all-time highs, as well.

Specifically, the CBB index was at 152.6 points for November, which beat the prior record set in October by 13.2 points. Fourteen of the last 17 months have been record highs in the index, CBB said.

And there have been month-over-month gains in the index for 16 of the last 17 months.

The month-over-month hike of 9.5% in November set the record for sequential gains in the index, CBB said, while the 38% year-over-year hike was an all-time high, too.

“It is exceptional that since the low point in May 2020 at the infancy of the pandemic, we have seen a 65% increase in average retained value across all models in Canada,” CBB director of OEM strategy and analytics James Hancock said in a news release.

“The Index graph clearly illustrates how extreme this growth is compared to any other time since CBB began the Index in 2005,” Hancock said, referring to the graph in the above window.

Compact cars showed the most growth during November, climbing 13.25% month-over-month. Subcompact cars were next at 12.83% and compact crossovers/SUVs were up 12.7%.

The only segment not to see an increase was the premium sports car segment (down 0.86%), which CBB said was driven by seasonality.