Canada’s used market sees prices drop slightly less this week

This week, for the period ending on Oct. 28, the Canadian used wholesale market experienced a decline in prices of -0.27%. That is compared to the previous reporting period of -0.47% and a 2017-2019 average (for the same week) of -0.37%.

According to Canadian Black Book’s latest Market Insights report, the car segment fell by -0.30% (versus the prior week’s -0.45%), while trucks/SUVs segment prices declined -0.25% (versus the prior week’s -0.49%). One out of 22 segments’ values increased during this reporting period.

In the United States, the overall car and truck segments decreased -0.60%, with the prior week showing a decline of -0.28%. The volume-weighted car segments were down -0.53% (versus the previous period’s -0.46%). And the volume-weighted truck segments fell by -0.63% (versus the prior week’s -0.20%).

In Canada, the most significant decline in the car segment was seen in the mid-size car category (-0.84%), followed by near-luxury cars (-0.51%). Sports cars experienced the least decline (-0.05%), along with sub-compact cars (-0.18%).

For trucks/SUVs, the segment with the most significant decline was compact vans (-1.41%). This was followed by compact crossovers/SUVs (-0.67%) and mid-size crossovers/SUVs (-0.61%). On the flip side, small pickups managed a small increase, of +0.04%.

The average listing price for used vehicles, as per the 14-day moving average, was approximately $38,175. The analysis is based on around 201,000 vehicles listed for sale on Canadian dealer lots, according to CBB.

The full report is available here.

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