Multi-week decline as used vehicle prices decrease -0.20%

The Canadian used wholesale market saw a decline in prices of -0.20%. for the week ending on Aug. 19, continuing a multi-week slide. (In the United States, the overall car and truck segments declined -1.52% last week and -1.45% the prior week.)

According to Canadian Black Book, the Canadian car segments fell by -0.05% (compared to the prior week’s -0.24%), while truck/SUV segment prices were down -0.34% (versus the previous -0.43%).

“Five out of 22 segments’ values have increased for the week,” said CBB in its Market Insights report. “The small pickup segment was up 0.45% followed by the premium (sports) car segment at +0.12%.” The segments that experienced the largest declines were compact vans (-0.64%) and full-size pickups (-0.48%).

In the car category, four out of nine segments saw an increase in pricing, the largest (and previously mentioned) coming from premium sports cars; another was full-size cars (+0.05%). The biggest decrease came from compact cars (-0.20%), followed by near luxury cars (-0.15%) and prestige luxury cars (-0.14%).

For trucks/SUVs, only one segment experienced an increase: small pickups with +0.45%. The biggest decrease came from the previously mentioned compact vans, followed by full-size pickups (-0.48%), and mid-size and full-size crossovers/SUVs — both experiencing a decline of -0.43% each.

The average listing price for used vehicles, as per the 14-day moving average, was around $38,000. The analysis is based on approximately 186,500 vehicles listed for sale on Canadian dealer lots, according to CBB.

In other news, CBB said access to electric vehicle charging is getting better in key EV markets, such as Québec and British Columbia. But overall, “it is not improving quickly enough.” As of August 15, they said Natural Resources Canada had listed roughly “23,000 charging ports in 9,100 locations across Canada, but over a fifth can be found in Montréal or Vancouver.”

You can read the full report here.

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