Black Book index hits new record
Wednesday 06 October 2021, 15:32
Maybe Black Book should write big books in chalk or pencil; something that can be easily erased and updated.
Analysts said the Black Book’s Used Vehicle Retention Index set a new record, with the September reading rising to 169.5 points, an increase of 3.8 points, or 2 , 3%, compared to August.
Black Book added on Wednesday that the index is currently 29.6% above what it was at the same time last year.
“With the new inventory levels continuing to decline, dealers are increasing their spending on used inventory, pushing up wholesale prices across all segments in September,” said Alex Yurchenko, head of data science at Black Book, in a press release.
âCars of all sizes and pickup trucks have seen exceptionally strong increases. With a limited supply of new vehicles expected (and low incentives) for the coming months and a return volume lower than the typical return volume of rental and commercial fleet companies, we expect wholesale prices to remain. high throughout the fourth quarter, âcontinued Yurchenko, who is one of the experts and executives. must appear during Used Car Week, which begins Nov. 15 at the Red Rock Resort in Las Vegas.
Black Book reiterated that its Used Vehicle Retention Index is calculated using its published average value on 2-6 year old used vehicles, as a percentage of the original typically equipped MSRP. It is weighted by registration volume and adjusted for seasonality, vehicle age, mileage and condition.
For a copy of the latest Black Book Wholesale Value Index, go to this site.