Truck/SUV segments see more pronounced decline

Dealers keeping tabs on the Canadian used wholesale market may be interested to note the decline in the overall truck/SUV category, which is down 0.47% for the week ending on July 8 — compared to the prior week’s -0.43%.

“Many segments saw a change in average value of more than $100 this week as the truck and SUV segments fell the most,” said Canadian Black Book in its latest Market Insights report. “Conversion rates were quite varied. Some observed sell rates were as low as 10%, but most were in the 35-55% range.”

As for the overall car segment, it declined 0.15% — an improvement from the previous period’s -0.18%. And perhaps less notably, the overall market experienced a drop in prices of -0.32% for the same period, a difference of -0.01% from the prior week.

In comparison, the overall car and truck segments in the United States were down 0.47% last week; the prior week decreased by -0.44%. Specifically, the volume-weighted car segments decreased -0.52%, versus the prior week’s -0.42% decrease.

On that note, only one Canadian car segment experienced an increase in pricing: full-size cars (+0.27%). The largest decrease in pricing came from compact cars (-0.44%), followed by prestige luxury cars (-0.37%) and mid-size cars (-0.29%).

For trucks and SUVs, all 13 segments were down, with full-size luxury crossovers/SUVs experiencing the most significant decline (-1.27%). This was followed by compact vans (-0.98%) and full-size vans (-0.89%).

Others worth noting include compact luxury crossovers/SUVs (-0.42%), compact crossovers/SUVs (-0.36%), and mid-size luxury crossovers/SUVs (-0.34%).

For more information, you can read the full report here.

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