Used vehicle prices down 0.29%, few category values increase

Prices declined 0.29% this week in the Canadian used vehicle wholesale market, with the car segment down 0.14% (versus -0.18% last week) and trucks/SUV prices falling 0.44% (versus -0.34% last week), according to the latest Market Insights from Canadian Black Book.

“Out of the 22 segments (in Canada), three categories’ values have increased for the week, with the sub-compact luxury crossover segment leading the way at +0.28%,” said CBB, adding that “Value changes this week seem to continue to be returning to normal seasonality, as can be seen in the 2017-2019 average changes.”

For the car segment, luxury and sports cars experienced the largest decreases this week—both down -0.30%—followed by mid-size cars (-0.24%) and premium sports cars (-0.21%). On the up side, compact cars saw prices increase 0.27%.

As for the truck/SUV segment, compact vans declined a significant 1.10%, followed by small pickups (-1.02%), and full-size crossovers (-0.82%). The sub-compact luxury crossover segment was up 0.28% and was the only truck/SUV category that increased, according to CBB.

In the U.S., the overall car and truck segments were down 0.85%, now for the eighth consecutive week, compared to the previous week’s -0.89%.

The average listing price for used vehicles in Canada slightly increased week-over-week, with the 14-day moving average hovering just above $37,000. That analysis is based on approximately 120,000 vehicles listed for sale on Canadian dealer lots, according to CBB.

In other news, the Canadian dollar passed the $0.785 USD mark, which CBB said is its highest in two months and was “lifted by a weaker US dollar after a smaller-than-expected U.S. inflation reading reduced bets on an aggressive interest rate hike by the Federal Reserve next month.”

Dealers can read the full report here.

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