Canadian used vehicle prices still down, cars still up

The Canadian used vehicle market experienced a decline of -0.04 for the week ending on April 29 — up from -0.09% the prior week and the 2017-2019 average of -0.15% for the same period.

The data was provided by Canadian Black Book in its Market Insights report, which notes that the overall car segment was up 0.02% (compared to +0.03% the prior week). Trucks and SUVs are down -0.04%, compared to the -0.09% decline the previous week.

“The Canadian market continued to decrease, and the overall decrease was slightly less than the historical average,” said CBB in its update. “Many segments saw a change in average value of less than $50 this week as the market continues to stabilize.”

Seven car segments experienced a price increase this round, with full-size cars seeing the largest increase (+0.35%), followed by sports cars (+0.31%) and sub-compact cars (+0.23%). On the down side, near luxury cars were down -0.17% while prestige luxury cars were down -0.14%.

As for the truck/SUV category, the largest declines came from compact luxury crossovers/SUVs (-0.79%), minivans (-0.31%), sub-compact crossovers (-0.28%) and full-size vans (-0.27%). On the up side, compact vans experienced an increase (of +1.37%), along with full-size pickups (+0.69%) and compact crossovers/SUVs (+0.07%).

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

In other news, the Canadian GDP likely dipped 0.1% month-over-month in March 2023. And the Canadian dollar hovered around $0.738 Monday morning, indicating very little change from the previous week.

The full report is available here.

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