Black Book index soars to another record

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LAWRENCEVILLE, Ga. – 

Perhaps Black Book should write down wholesale records in chalk or pencil; something that can be easily erased and updated.

Analysts said the Black Book Used Vehicle Retention Index set a new record, as the September reading came in at 169.5 points, representing an increase of 3.8 points, or 2.3%, from August.

Black Book added on Wednesday that the index currently stands 29.6% above where it was at this time last year.

“With new inventory levels continuing to drop, dealers are increasing their spending on used inventory, pushing wholesale prices up across all segments in September,” Black Book chief data science officer Alex Yurchenko said in a news release.

“Cars of all sizes and vans saw exceptionally strong increases. With anticipated limited new vehicle supply (and low incentives) for months to come and lower than typical return volume from rental and commercial fleet companies, we expect the wholesale prices to remain strong throughout Q4,” continued Yurchenko, who is among the experts and executives scheduled to appear during Used Car Week, which begins on Nov. 15 at the Red Rock Resort in Las Vegas.

Black Book reiterated that its Used Vehicle Retention Index is calculated using its 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.

To obtain a copy of the latest Black Book Wholesale Value Index, go to this website.



Source : AutoFinanceNews