LAWRENCEVILLE, Ga.—Used vehicle values increased in November, according to Black Book.
Black Book’s Used Vehicle Retention Index increased 0.5% (0.7 points) last month to 147.8 from October 2024 (147.1), which is 3.7% below where it was at the same time in 2023.
"Auction activity in November mirrored the strong performance observed in October, maintaining robust activity in the auction lanes, with conversion rates staying in the mid-to-high 50% range," said Laura Wehunt, vice president of data and analytics at Black Book. "Depreciation remained stable, contrasting with the same period last year when it consistently exceeded 1% per week. As we enter the final month of 2024, we are carefully observing potential increases in new car incentive levels, which could have implications for the used market."
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, please click here.