Average weekly used vehicle wholesale prices in Canada continue to grow, with last week’s performance (ending on March 5) significantly better than the seasonal norms of 2017-2019 for the overall market, according to Canadian Black Book’s latest update.
The truck/SUV segments delivered a strong market performance, while cars rebounded from the last week of February. The positive weekly change it experienced was also much stronger than historical performances from 2017-2019.
CBB said the “Truck and SUV segments continued to lead the strengthening in prices, with performance not only exceeding historical performance (2017-2019), but almost approaching last fall’s strongest weekly performances with a strong up-swing in prices.”
Used cars posted a weekly change of +0.04%, which is an improvement over the preceding week’s decrease of -0.13%. Furthermore, most car segments delivered a weekly increase, with mid-size cars leading the way (+0.58%), followed by near luxury cars (+0.36%) and compact cars (+0.29%). Sub-compact cars (+0.18%), full-size cars (+0.17%), luxury cars (+0.10%), and sports cars (+0.10%) were also up that week.
The only categories that were down include prestige luxury cars (-0.91%), which was the only segment that saw a large decline in values, while premium sports cars were down only 0.02%.
Trucks fared quite well, with an average increase in values of +0.48% for the week — up from the prior week’s +0.17%. Minivans managed the largest weekly increase at +1.12%, followed by small pickups (+0.63%), sub-compact luxury crossovers (+0.62%), and mid-size luxury crossover/SUVs (+0.62%). Sub-compact crossovers were also up (+0.13%), but this category had the weakest performance for the specific weekly period.
The full report can be found here.
