Used car prices still on the rise, B.C. flood damages could signal big economic impact

Still hot, the Canadian used wholesale market saw prices continue to rise for the 15th straight week, with prices up in all 22 vehicle segments as new and used vehicle supply continues to decline, according to Canadian Black Book.

The data is based on CBB’s latest auto market update, which ended the week of November 24. Overall, prices increased 1.23% for the week, which the company described as the highest overall increase “seen in recent history.” The overall car segment is up 1.00% and truck/SUV segments increased a record 1.46%.

In the overall car segment, premium sports cars experienced the smallest price increase for the week (+0.14%), while full-size cars saw the largest price increase for the week (+2.54%), followed by the mid-size cars (+2.33%), and compact cars (+2.15%).

For Trucks/SUVs, the sub-compact crossover category managed the largest price increase at 2.42%, followed by compact crossover/SUV (+2.41%) and minivans (+1.99%). Small pickups experienced the smallest increase at +0.07%.

The Canadian dollar remains stable around $0.81, as of November 24.

In other news, CBB said damages and repairs around the B.C. floods could make it Canada’s most expensive natural disaster, not to mention the significant economic impact.

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