The Canadian used wholesale market continues its upward trend, now for the eight consecutive week as all but one segment managed price increases for the week ending on October 5.
In its latest weekly automotive market update, Canadian Black Book said lack of inventory “continues to be the main driver for these wholesale price increases with both new and used vehicle inventory continuing to decline.”
Overall for the market, prices increased 0.57% for the week, with car segments up 0.66% and truck/SUV segments up 0.49%.
In the car segment, premium sports cars managed the largest increase (+1.02%) followed by the near-luxury car (+0.89%) and sports car (+0.87%) categories. The only segment to see prices decline was the luxury car category, at -0.05%.
For truck/SUVs, all 13 segments experienced price increases for the week, with the sub-compact luxury crossover category achieving the largest price increase for the overall segment at +0.93%, followed by full-size crossover/SUVs (+0.79%), compact crossover/SUVs (+0.78%), and sub-compact crossovers (+0.77%).
The smaller increases came from the small pickup category (+0.13%) and full-size vans (+0.18%).
As for the Canadian Black Book Used Vehicle Retention Index, it finished at another historical high in September, reaching 132.6 points—up 4.8 points from August 2021—the largest one-month increase this year.
The average listing price for used vehicles continues to reach “historic highs” week-over-week, with the 14-day moving average now just under $29,200. CBB’s analysis is based on approximately 120,000 vehicles listed for sale on Canadian dealer lots.
“The number of used active listings continues to fall and now sits below 116,000 for the first time since September 2020, as the 14-day moving average now sits at (approximately) 115,900 units,” said CBB. “Days-to-turn remains stable at (approximately) 48 days (unchanged from last week).”
The full report is available here.
