Canadian Black Book’s used vehicle retention index for May 2021 reached 123.6 points—up 2.3 points from the previous all-time record in April, which reached 121.3 index points.
CBB said the new record represents the eleventh consecutive month of increases, and the ninth with an all-time record.
“This is a unique situation in the history of used values in Canada and across North America,” said Yolanda Biswah, VP of Sales at Canadian Black Book. “What is telling is the astronomical growth in values since just twelve months ago.”
The year-over-year increase in the index has been, for the second consecutive month, the highest ever—up 23% more compared to May 2020, which stood at 100.5 Index points. All segments measured by CBB in May 2021 also demonstrated value increases, with the exception of the sub-compact cars category, which declined by 1% compared to last month.
The full-size car segment led the way in terms of monthly value retention for May, rising 6.7% and revealing a 32.7% growth compared to one year ago. The premium sports car category managed a 5.8% month-over-month increase and a 28.2% climb from the same period last year.
It is also worth noting that the sports car segment increased in retained value YOY—up 45.3%.