LAWRENCEVILLE, Ga.—Used vehicle values took a big dip in November, Black Book reported.
The company’s Used Vehicle Retention Index decreased –1.2% (1.8 points) last month to 140.3 from October, which is 5.0% below where it was at the same time in 2024.
“The Index fell to 140.3 last month, its lowest level since January 2021. While larger depreciation in the fourth quarter is not uncommon, the scale of November’s decline was outside normal seasonal expectations,” said Laura Wehunt, vice president of data and analytics at Black Book. “The steepest declines occurred in the mainstream segments, while luxury segments followed more typical seasonal patterns. For example, the Luxury Car segment’s Index rose 1% compared with 2024, whereas the Sub-Compact Car segment’s Index fell 12% over the same period.”
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.