The Canadian used vehicle wholesale market managed another positive performance with an increase of 0.35% for the week ending on May 25, even though it was down from the previous week’s 0.51%, according to Canadian Black Book.
In its Canadian auto market update, CBB said the weekly increases seen in both the car and truck/SUV segments were well above-average week-over-week price increases.
The overall car segment led the market with a strong up-tick in prices (+0.37%), which was lower than the previous week’s +0.55%. And a similar situation occurred with the overall truck/SUVs segment, which managed another positive week with 0.33%—but down from the previous week’s +0.47%.
“While still in positive territory, the increases seen this week were slightly lower than the previous week,” said CBB. “Supply remains low with extremely high demand on both sides of the border. Upstream channels continue to tap supply before it can be available to wholesale markets.
Most car segments managed a weekly increase, with premium sports cars up 0.76% and leading the car segments. Sports cars were up 0.74%, while compact cars managed an increase of 0.62% and prestige luxury cars were up 0.59%.
The near-luxury car and luxury car segments were both down with a -0.10% weekly change, and had the weakest performances of the car segments.
As for the truck/SUV segments, most saw positive weekly changes—with full-size pickups leading all segments with a weekly increase of 1.29%, followed by small pickups (+1.08%).
Sub-compact luxury crossovers were down 0.51% and had the weakest performance this week out of all segments. It was also the only truck/SUV segment with a decline in prices.
On used vehicle average listing prices, these continued an upward trend that showed the 14-day moving average now at approximately $26,140. The 28-day moving average also continued to see strong increases. CBB said the analysis is based on approximately 140,000 vehicles listed for sale on Canadian dealership lots.
“Active listing volume had another slight increase this past week, with the 14-day moving average now at around 139,100, up from the prior week’s figure of approximately 138,180,” said CBB. “Active listing volume began showing positive movement in early April and we are still seeing the trend continue.”
Read the full report for more details.