Indices

Used Vehicle Index EV Index

Frequently asked questions

What is the Exponential Used Vehicle Index?

The Exponential Used Vehicle Index measures the wholesale price level of the used light duty vehicle fleet in operation, and inventory awaiting sale, at wholesale and retail sale locations in the United States. Percentage changes in the index reflects percentage changes in the underlying used vehicle wholesale value price levels, given a constant level of vehicle fleet composition and quality.

How frequently is the Exponential Used Vehicle Index value published?

Index values are provided on a weekly basis and are published on Exponential Indices LLC website EM automotive indices every Thursday by 09:00 AM Eastern Time. If Thursday falls on a holiday, the index will be published the same time on the following business day.

What is the start date for the Exponential Used Vehicle Index?

The index base date is January 1, 2020, with a starting index value of 100.

What is the source of data for the Exponential Used Vehicle Index?

Data for the index is sourced primarily through the National Auto Auction Association (NAAA) AuctionNet data. AuctionNet provides the most comprehensive source of used vehicle wholesale data in the United States, representing approximately 80% of U.S. auction transactions.

Who calculates and publishes the Exponential Used Vehicle Index?

On behalf of Exponential Indices LLC, Solactive is the index agent that performs the index calculation and publishes the index. Solactive is an industry leading, Germany based, index agent that provides index development, calculation, and administration services for over six thousand indices. More information on Solactive is available at: https://solactive.com. In addition to being accessible on Solactive’s website, the index will be published with relevant supplemental information on Exponential Indices LLC website.

What type of vehicle segments does the Exponential Used Vehicle Index include?

The Exponential Used Vehicle Index is a market composite index that includes all light duty vehicle segments (Class 1 & Class 2 vehicles as defined by the US Department of transportation) that have been sold at major auction houses during a specified calculation period. The segments included are cars, pickup trucks, SUV, and minivans.

How do I interpret the Exponential Used Vehicle Index?

The index is designed to be highly correlated with the automotive portfolios of rental car companies, financial institutions, and corporate and government fleets, so any percentage change in the index translates to a similar movement in the underlying value of the fleet. As an example, if the index increases 1% week over week, then the underlying value of all vehicles in a rental company’s fleet, or leasing company’s portfolio, have also increased approximately 1%.

Who is the Index Administrator for the Exponential Used Vehicle Index?

Exponential Markets Inc. is the index administrator. Exponential Indices is wholly owned by the parent company, Exponential Markets Inc. Exponential Markets designs and lists novel derivative products for trading through its partner ecosystem.

How is the Exponential Used Vehicle Index calculated?

The index is calculated employing advanced hedonic techniques along with machine learning algorithms that allow processing vast amounts of multifaceted vehicle data. The use of hedonic techniques allows bundling differences in vehicle make, model, trim levels etc. to assess the data as a homogenous data source to arrive at current estimated pricing values. A complete index methodology is available here.

How is the Exponential Used Vehicle Index used?

The Exponential Used Vehicle Index is designed to provide accurate and reliable wholesale price levels for the used vehicle market on a weekly basis so fleet owners, automotive lease and loan portfolios, and other industry participants can better understand and manage their exposure resulting from used vehicle value volatility and market trends.

In addition, since the Exponential Used Vehicle Index was created for tradeability, the index can be used for settlement purposes for Over-the-Counter (OTC) forward and options contracts, as an underlying for cash settled index derivative contracts and exchange-traded funds (ETFs).

Is the Exponential Used Vehicle Index available on mainstream data vendors like Bloomberg?

Exponential’s Index is listed on Bloomberg (ticker: AUTO Index) in addition to other financial data and analytics platforms such as Morningstar and FactSet.

Who do I contact to license the Exponential Used Vehicle Index?

Inquiries regarding licensing the index should be directed to legal@exponentialmarkets.com.

Who do I contact for media related queries on the Exponential Used Vehicle Index?

Media related queries on the index should be directed to media@exponentialmarkets.com.