Used vehicle prices down -0.24% compared to prior week’s -0.30%

Dealers across the country will find the Canadian used wholesale market has experienced a decline in prices of -0.24% for the week ending on Oct. 7 — slightly less than the prior week’s -0.30%, and not overly far from the 2017-2019 average of -0.19% for the same period.

According to Canadian Black Book’s latest Market Insights report, the car segment fell by -0.17% and truck/SUV segment prices were down -0.30%. Two out of 22 segments’ values increased for the week.

In comparison, the overall car and truck segments in the United States declined -0.32% last week and -0.08% the prior week. The volume-weighted car segments in particular decreased -0.34% (versus -0.15% the prior week), while truck segments were down by -0.31% (versus -0.05% for the previous recorded period).

In Canada, seven out of nine segments revealed a decrease in pricing, with the most significant coming from compact cars (-0.62%). That was followed by both near luxury cars and prestige luxury cars (-0.23%). However, two segments did experience an increase: premium sports cars and sports cars (+0.01%).

As for trucks/SUVs, 12 of the 13 segments experienced a decline, with compact vans observing the largest decrease (-1.93%), followed by full-size vans (-0.53%). Others with a notable depreciation include full-size luxury crossovers/SUVs and sub-compact crossovers, both at -0.36%.

The average listing price for used vehicles, as per the 14-day moving average, was approximately $38,300. The analysis is based on around 195,000 vehicles listed for sale on Canadian dealer lots, according to CBB.

Dealers can read the full report here.

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