Used vehicle prices up for 20th week

As we near the end of the year, the Canadian used wholesale market continues to see prices rise—now for the 20th consecutive week, according to Canadian Black Book’s auto market update.

Seventeen out of the 22 vehicle segments experienced price increases for the week ending on December 28, as declining inventory remains the key driver for price increases. Overall, prices increased 0.25% for the week, with car segments up 0.28% and truck/SUVs up 0.23%.

The compact car segment had the largest price increase for the week, up 1.29%, followed by prestige luxury cars (+0.55%) and sports cars (+0.52%). The luxury car category was the only car segment to see prices decline for the week—down 0.30%.

For trucks/SUVs, the compact van segment experienced the largest price increase for the week, up 3.10%, followed by full-size vans, which increased 0.97%. On the down side, full-size crossovers/SUVs saw the biggest decrease (-1.04%), followed by minivans (-0.53%).

CBB said the average listing price for used vehicles continues to reach historic highs week-over-week, with the 14-day moving average now above $32,000. The analysis is based on approximately 120,000 vehicles listed for sale on Canadian dealer lots.

In the United States, the overall car and truck segments were down (-0.01%) for the first time in 16 weeks; the prior week, the segments increased by 0.11%. The volume-weighted car segments decreased 0.08%, compared to the previous week’s

increase of 0.04%. And the volume-weighted truck segments increased 0.02%, whereas the previous week it increased 0.15%.

Read the full report.

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