Canadian Black Book’s latest Market Insights report reveals another decline in prices for the country’s used vehicle wholesale market, this time for the week ending on May 16.
Dealers may be interested to note that overall prices for the market were down 0.04%, compared to the prior week’s -0.08% and the 2017-2019 average of -0.09%. CBB said many segments saw “a change in average value of less than $65 this week as the market continues to stabilize.”
Based on the report the car segment fell by 0.04%, while trucks/SUVs were down 0.05%. (In comparison, the overall car and truck segments in the United States decreased 0.15% last week, versus the prior week’s decrease of 0.10%.)
For the overall car category, four out of nine segments experienced a price increase — the largest coming from full-size cars (+1.56%), followed by sports cars (+0.20%). On the down side, the segments with the largest decreases in pricing were prestige luxury cars (-0.71%), sub-compact cars (-0.18%), and mid-size cars (-0.15%).
As for trucks/SUVs, the segments with the largest declines were compact vans (-0.33%), and sub-compact crossovers (-0.30%). On the up side, three segments experienced increases: full-size pickups (+0.71%), small pickups (+0.10%), and compact crossovers/SUVs (+0.07%).
The average listing price for used vehicles, based on a 14-day moving average, was at around $35,500. That analysis is based on approximately 175,000 vehicles listed for sale on Canadian dealer lots, according to CBB.
It is also worth noting that the Canadian dollar sat at $0.741 the morning of May 15 — a slight decline from the prior week’s $0.749.
You can read the full report here.