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Used Vehicle Values Increased in October


LAWRENCEVILLE, Ga.—Used vehicle values increased in October, according to Black Book.

The company’s Used Vehicle Retention Index increased 0.5% (0.8 points) in October to 147.1, up from September 2024 (146.3). The Index is 8.7% below where it was at the same time in 2023.

“Activity in the auction lanes in October was strong, with conversion rates consistently in the high 50% range with the larger independent buyers actively engaging in the bidding and securing a fair amount of inventory,” said Laura Wehunt, vice president, data and analytics for Black Book. “As for valuation trends, the overall market reported consistent declines throughout the month that were on par with traditional October depreciation rates.”

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Wehunt added that moving into November, the industry is closely monitoring how the presidential election outcome may impact demand for new and used 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, please click here.  

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