LAWRENCEVILLE, Ga.—Used vehicle values continued their decline in June.
Black Book is reporting its Used Vehicle Retention Index for June decreased 1.4% (2.1 points) to 146.6 from May 2024 (148.6), which is 15.5% below where it was at the same time in 2023.
The Index sits 27.9% above the March 2020 reading – the last pre-Pandemic month.
"In June, the pace of depreciation increased as wholesale values across all segments experienced larger declines than typical seasonality," Laura Wehunt, VP-analytics at Black Book, said in a statement. "These larger-than-typical declines caused the Black Book Retention Index to fall by 1.4%, with all individual reporting segments also showing a decline in their Index readings. Throughout the month, auction conversion rates remained stable in the mid-50-percent range, but days to turn in the retail market increased each week, ending the month at 45 days compared to 38 days at the start."
How Index is Calculated
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.