Prices continue to rise in the Canadian used wholesale market, now for the 12th consecutive week, according to Canadian Black Book’s latest auto market update.
Nearly all vehicle segments saw prices rise for the week, as lack of inventory continues to drive up the price. Overall, prices increased 0.64% for the week ending on November 2, with car segments up 0.45% and truck/SUV segments up 0.83%.
For the overall car category, eight of nine segments had price increases. Only full-size cars experienced a price decline for the week—down 0.70% from CBB’s previous report.
Compact cars experienced the largest price increase for the week (+1.12%), followed by the mid-size cars (+0.91%), and subcompact cars (+0.64%).
As for trucks/SUVs, it is now the ninth consecutive week that all 13 segments saw prices increase. The full-size van segment had the largest price increase at +1.44%, followed by sub-compact luxury crossovers (+1.28%) and compact vans (+1.23%).
Full-size pickups were also up (+0.36%), but with the smallest increase for the week.
CBB’s Used Vehicle Retention Index remains at a historical high, finishing October at 139.4 points, increasing 6.8 points from September. Year-over-year, the index is up 26.1% from 110.5 points in October of 2020.
“Compact Car, Near Luxury Car, and Sporty Car segments saw the largest increases, while no segments had overall declines for the month of October,” said CBB.
The full report is available here.