Used car prices down slightly, similar to previous week

The Canadian used wholesale market experienced a slight decline in prices of -0.05% for the week ending on April 11. It was more than the previous week’s -0.03% decline, but significantly less than the 2017-2019 average of -0.13% for the same period, according to Canadian Black Book.

The overall car segment was down -0.03% this week, versus +0.15% the previous week. And the overall truck and SUV segment was down -0.07% this week, compared to -0.20% last week.

“The Canadian market continued to decrease and the overall decrease was less than the historical average,” said CBB in its update. “Supply remains low with high demand for more recent and clean condition vehicles on both sides of the border.”

Most segments, they said, saw a change in average value “of less than $50 this week as the market continues to stabilize.”

In terms of car segments, four categories experienced a price increase: full-size cars (+0.27%), sports cars (+0.26%), luxury cars (+0.06%), and near luxury cars (+0.03%). In contrast, four segments had decreases — with compact cars (-0.46%) and prestige luxury cars (-0.29%) experiencing the biggest declines.

As for trucks/SUVs, the categories that saw the largest declines were compact luxury crossovers/SUVs (-0.50%), compact crossovers/SUVs (-0.27%), and mid-size luxury crossovers/SUVs (-0.22%). On the up side, four categories managed the largest increases, including full-size vans (+0.36%), full-size pickups (+0.21%), and compact vans (+0.20%).

The average listing price for used vehicles, based on the 14-day moving average, was at approximately $36,000. The analysis is based on around 180,000 vehicles listed for sale on Canadian dealer lots, according to CBB.

The full report is available here.

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