Still on an up trend, prices continue to rise in the Canadian used wholesale market—now for the 16th straight week, based on Canadian Black Book’s weekly auto market update that ended on November 26.
Declining new and used vehicle inventory is helping to boost prices across all 22 vehicle segments. Overall prices increased 0.60% for the week, but it was down from last week’s record increases. The car category was up a total 0.49% and truck/SUVs were +0.71%.
All car segments experienced price increases this week, with prestige luxury cars up 0.04% and premium sports cars up 0.12%—both of which managed the smallest increases for the week. The compact car segment experienced the largest price increase for the week, up 1.68%, followed by sub-compact cars (+1.55%) and mid-size cars (+1.17%).
All truck/SUV segments also saw prices increase, with compact vans garnering the largest price increase for the overall truck/SUV category at 1.76%, followed by minivans (+1.67%) and full-size vans (+1.62%). Small pickups increased 0.08% and full-size luxury crossover/SUV prices climbed only 0.15%—the smallest price increase for the week.
“Conversion rates remained strong this past week,” said CBB. “Rates were observed into the 75% range on some lanes last week, with the few low kilometre, good condition units garnering high levels of bidding activity and premium pricing.”
In general, CBB said the quality of vehicles at auction remains below average thanks largely to the supply of better-quality vehicles coming upstream.
The full report is available here.
