Automotive

Vehicle Retention Increases In June

Translation — "Uncertain future macroeconomics prospects" = You think I should buy a new car? IN THIS ECONOMY?!
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Vehicle Retention Increases In June

The Retention Index increased in June to 191.5 points. Since points seem like the strangest way to measure time, we decided to peel back what that means to the rest of us. 

📈 Versus May. June 2022 saw a 1.5% increase over May in customers retaining their used vehicles. 

👀 VS. 2021. The latest increase brings the total retention index up 15% year-over-year. 

😳 VS. March 2020. June 2022 saw customers retaining their used vehicles at 67% higher rates than pre-pandemic levels. 

You can assume these numbers are inflated by rising new and used vehicle prices. Alex Yurchenko, Chief Data Science Officer at Black Book, also points to "Uncertain future macroeconomics prospects" as contributing to softening demand.

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