Black Book Data - Light Trucks FULL SIZE VAN Forecast Residuals 24 MTH 52.7% 54.1% 58.6% 57.1% 60.7% 60.4% 58.6% 58.6% 58.9% 72.0% 57.7% 52.5% 55.6% 56.4% 54.1% 49.3% 49.8% 41.9% 48.1% 47.9% 43.9% 48.3% 50.2% MODEL YR 1993 MY 1994 MY 1995 MY 1996 MY 1997 MY 1998 MY 1999 MY 2000 MY 2001 MY 2002 MY 2003 MY 2004 MY 2005 MY 2006 MY 2007 MY 2008 MY 2009 MY 2010 MY 2011 MY 2012 MY 2013 MY 2014 MY 24 MTH 63.4% 70.1% 69.1% 66.2% 57.2% 56.4% 50.5% 58.7% 61.0% 61.8% 56.0% 62.0% 61.0% 55.2% 42.1% 52.9% 43.6% 50.4% 53.9% 50.6% 55.5% 59.0% MODEL YR 1993 MY 1994 MY 1995 MY 1996 MY 1997 MY 1998 MY 1999 MY 2000 MY 2001 MY 2002 MY 2003 MY 2004 MY 2005 MY 2006 MY 2007 MY 2008 MY 2009 MY 2010 MY 2011 MY 2012 MY 2013 MY 2014 MY 24 MTH 10.7% 16.0% 10.5% 9.2% (3.5%) (4.1%) (8.0%) 0.1% 2.2% (10.2%) (1.6%) 9.5% 5.4% (1.2%) (11.9%) 3.6% (6.2%) 8.5% 5.9% 2.7% 11.6% 10.7% 36 MTH 42.2% 43.2% 46.6% 47.6% 51.3% 51.3% 48.8% 48.1% 51.0% 51.0% 50.9% 44.3% 46.4% 48.7% 46.5% 41.8% 41.9% 35.1% 39.4% 39.3% 36.8% 40.0% 42.2% 48 MTH 33.4% 34.2% 36.7% 39.2% 43.1% 43.1% 40.3% 38.7% 42.0% 43.1% 42.7% 38.2% 39.6% 40.4% 38.5% 35.2% 35.0% 27.8% 32.4% 32.6% 29.7% 32.7% 34.5% 60 MTH 26.0% 26.9% 28.4% 31.6% 35.8% 36.1% 32.4% 31.0% 35.2% 35.6% 34.9% 31.6% 32.9% 34.3% 31.0% 27.7% 27.7% 23.4% 27.6% 27.4% 23.6% 27.3% 28.8% Vehicle Pricing MODEL YR 1993 MY 1994 MY 1995 MY 1996 MY 1997 MY 1998 MY 1999 MY 2000 MY 2001 MY 2002 MY 2003 MY 2004 MY 2005 MY 2006 MY 2007 MY 2008 MY 2009 MY 2010 MY 2011 MY 2012 MY 2013 MY 2014 MY 2015 MY Actual Wholesale Prices 36 MTH 61.6% 62.0% 62.0% 53.7% 47.8% 46.5% 51.2% 54.7% 56.5% 48.7% 50.9% 50.0% 47.9% 41.6% 43.7% 40.3% 40.5% 44.7% 42.0% 46.4% 52.2% - 48 MTH 53.3% 56.6% 49.9% 45.2% 39.4% 43.8% 44.1% 44.9% 45.8% 44.3% 41.2% 40.4% 36.7% 43.6% 34.6% 33.9% 36.7% 34.8% 38.6% 44.0% - 60 MTH 48.2% 45.4% 40.5% 37.1% 37.8% 41.7% 37.4% 43.0% 41.6% 37.8% 34.7% 31.2% 37.1% 34.5% 28.2% 32.7% 27.8% 33.0% 36.3% - 48 MTH 19.9% 22.4% 13.2% 6.0% (3.6%) 0.7% 3.8% 6.2% 3.8% 1.3% (1.5%) 2.2% (2.9%) 3.2% (3.9%) (1.3%) 1.7% 7.0% 6.2% 11.4% - 60 MTH 22.2% 18.5% 12.1% 5.5% 2.0% 5.6% 5.0% 12.0% 6.4% 2.2% (0.2%) (0.4%) 4.1% 0.2% (2.8%) 5.0% 0.1% 9.5% 8.7% - Section 4 Difference 36 MTH 19.4% 18.7% 15.4% 6.1% (3.5%) (4.8%) 2.4% 6.6% 5.5% (2.3%) 0.1% 5.7% 1.5% (7.1%) (2.8%) (1.6%) (1.3%) 9.6% 2.6% 7.1% 15.5% - Source: DesRosiers Automotive Consultants Inc. and Canadian Black Book 2016 Edition Canadian Used Vehicle Report 91