Black Book on Dec. 4 released its Used Vehicle Retention Index for November 2024.The seasonally adjusted Index increased 0.5% (0.7 points) 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 fifty percent range,” said Laura Wehunt, vice president of data and analytics. “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. The Index offers an accurate, representative, and unbiased view of the strength of today’s used vehicle market values.