Used vehicle prices slightly down—by 0.04%

Overall prices declined slightly in the Canadian used wholesale market for the week ending on April 12—down 0.04% compared to the previous week’s -0.02%, according to Canadian Black Book. The 2017-2019 average for that week was -0.13%.

The car segment saw prices rise slightly, up 0.11% compared to 0.10% the prior week. And the truck/SUV segment experienced a decline of 0.18% for the week, compared to the previous -0.13%. In the United States, overall car and truck segments were down for the 16th consecutive week, this time by 0.15%.

“The Canadian wholesale market has continued to remain stable overall but it remains slightly into the negative territory,” said CBB. Newer vehicles tend to be outperforming vehicles aged three years and older. Supply remains low while demand continues to soften on both sides of the border.”

The premium sports car segment experienced the largest price increase for the week (+0.46%), followed by sub-compact cars (+0.45%) and prestige luxury cars (+0.41%). On the downside, the mid-size car segment saw the largest price declines—down 0.85%, followed by sub-compact luxury crossovers (-0.65%) and full-size crossover/SUVs (-0.60%).

For trucks/SUVs, minivans and sub-compact crossovers were the only two segments in the category to see prices increase—up 0.20% and 0.01%, respectively. Sub-compact luxury crossovers/SUVs experienced the largest price declines for the week (-0.65%), followed by full-size crossovers/SUVs (-0.60%) and compact vans (-0.55%).

The average listing price for used vehicles, as per the 14-day moving average, is now slightly below $37,000. The analysis is based on approximately 120,000 vehicles listed for sale on Canadian dealer lots.

In other news, the unemployment rate dropped 0.2 percentage points to 5.3% in March, representing “the lowest rate on record since comparable data became available in 1976,” said CBB. Employment was up in both the service-producing (+0.3%) and the goods-producing (+0.8%) sectors in March.

And the Canadian dollar finished the week off at $0.80.

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