Used vehicle prices dip slightly lower

Wholesale prices for the Canadian used vehicle market were down -0.09% for the week ending on April 22 — more than the previous week’s -0.05%, but less than the 2017-2019 average of -0.12%, according to Canadian Black Book.

Its latest Market Insights reveal that the overall car segment once again pulled ahead of trucks/SUVs, as car prices were up +0.3%. On the other hand, truck/SUV segment prices were down -0.2%.

“The Canadian market continued to decrease, and the overall decrease was slightly less than the historical average,” said CBB in its report. “Upstream channels continue to tap supply before it can be available to wholesale markets. Many segments saw a change in average value of less than $50 this week as the market continues to stabilize.”

In the car category, six segments experienced a price increase, including sub-compact cars (+0.27%), sports cars (+0.22%), and mid-size cars (+0.18%). On the down side, three segments experienced a decline in prices, with the largest decrease coming from full-size cars (-0.57%) and prestige luxury cars (-0.07%).

In terms of trucks/SUVs, the largest declines came from compact luxury crossover/SUVs (-0.48%), full-size vans (-0.37%), sub-compact crossovers (-0.34%) and sub-compact luxury crossovers (-0.30%). On the up side, two segments experienced increases: compact vans (+1.73%) and small pickups (+0.01%).

The average listing price for used vehicles, based on the 14-day moving average, was approximately $36,000.

You can view the full report here.

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