![]() Resale value is an important factor for consumers that influences their buying decisions. Trevor Longley, Vice President, Sales at Nissan Canada Inc., commented: "We are thrilled to bag a win at the Residual Value Awards 2023. With this year's awards revealing some interesting trends in relation to EV residual values, it showcased a promising beginning for EVs, predicted them to hold more value after four years than their Internal Combustion Engine (ICE) vehicles counterparts. The criteria of CBB's Residual Value awards are based on manufacturers' average residual values calculated as of January 1st, 2023, and compared to the following years' average to determine which OEMs had the greatest increase based on vehicle segments and brand categories. The awards forecast residual values four years into the future. The 2023 awards cover 16 vehicle categories and five overall brand categories. This annual award showcases and measures how much of a vehicle's original Manufacturer Suggested Retail Price (MSRP) it holds after four years of ownership. Having won a Retained Value award in the ZEV Main category for the Nissan LEAF in 2022, this marks a first win for Nissan in the overall category for Residual Value. The weights using combined retention rates of vehicles of different ages.Mississauga, Ontario – Back for it's second year, the Canadian Automotive data and Analytics provider Canadian Black Book (CBB) announced Nissan Canada as the Most Improved automotive brand at the 2023 Best Residual Value Awards. In order to ensure a consistency of the Index from month to month, we adjust The year, the mix of different model years (ages) on the auction floor changes. Used vehicles as a percent of the original typically equipped MSRP. Using Black Book’s published Wholesale Average Value on 2- to 6-year-old Purpose of Black Book’s Wholesale Used Vehicle Retention Index is to provide anĪccurate and unbiased view of the strength of used vehicle wholesale market Regional Adjustment : Regional differences are identified andĪccounted for when the national average is derivedīlack Book Retention Index Black Book Index: Index Overview.Non-linear regression and depends on the vehicle class and age The cents per mile rate is determined using Mileage Adjustment : All sales prices are adjusted for deviation of actual mileage fromĮxpected mileage for a given month.Of the vehicle is ascertained and included in the calculations The data is prepared, the following adjustments are made to any sale: In addition to a statistical outlier detection process, the data is reviewed and annotated by automotive analysts in order to apply machine learning techniques. We use a proprietary statistical expert system in which machine learning techniques are aided by our subject matter experts – analysts with a combined 250+ years of industry experience. ![]() MethodologyĪll Black Book values are data driven. Marketplace before any data trends emerge. Properly identify changes in buying behavior, demand, and supply in the They: inspect sold vehicles, record weather, attendance and other localĬonditions, and interact with the industry’s front line. Our survey personnel attend and report on over 65 auctions each week where Of all auction sales, and we account for all available sources, not just Lenders, dealer-to-dealer auction platforms, and more. Sales data from most NAAA member auctions, as well as a variety of upstreamĪuction feeds from OEMs, fleet management companies, rental car companies, Relationships and agreements nationwide, Black Book receives transactional Most comprehensive view of the wholesale market. Sales Dataīlack Book’s wholesale price is based on the Through the use of real-time data, powered by AutoCheck, we incorporate over 1,200 VIN specific history data elements, and adjust the value accordingly, based on our proprietary algorithm, ensuring our users incorporate all potential variables into the true wholesale value. ![]() Recently, Black Book introduced a VIN specific valuation (History Adjusted Value) that considers the individual history of each vehicle, including the number of owners, vehicle usage, number of accidents and corresponding severity, title issues, flood/hail/fire damage, CPO history, and other variables that are not obvious when physically inspecting a vehicle. Precision, in the timeliest manner possible. Project a vehicle’s value, nor do we imply what the value should be rather,īlack Book reports the current valuation. As an independent data guide, Blackīook’s mission is to agnostically report the market, therefore we do not The published values reflect daily changes in the marketplace and are adjustedįor mileage, condition history, and region. Over 60 years, Black Book’s Wholesale Values have been utilized by industryĮxperts, including buyers, sellers, and lenders, as the Gold-Standard toĪccurately represent the current fair value of a vehicle on the open auction.
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