LAWRENCEVILLE, Ga.—Used vehicle prices dipped last month, according to Black Book, which noted the outlook for pre-owned auto prices in 2025 is unclear.
The company cited uncertainty about Trump Administration policies and tariffs for the cloudy future.
Black Book’s Used Vehicle Retention Index for January decreased 1.2% (1.7 points) to 146.3 from December (148.0), which is 2.5% below where it was at the same time in 2024.
“As 2025 began, market trends appeared aligned with pre-pandemic seasonal patterns. Expectations for a stable market were high, fueled by the prospect of a spring market and the anticipation that this year would mark a low point in used vehicle volume,” stated Laura Wehunt, vice president of data and analytics for Black Book. “However, as we enter February, significant uncertainty surrounds the automotive industry’s outlook for the year, largely due to potential legislative changes prompted by the new administration. Unresolved issues include tariffs, interest rates, and incentives for electric vehicles.”
The Black Book Used Vehicle Retention Index is calculated using Black Book’s published Wholesale Average value on two- to six-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, click here.