This time around, the Canadian used wholesale market experienced a decline in prices of -0.70% for the week ending on Feb. 10, according to Canadian Black Book. Last week it was -0.42%, and the 2017-2019 average for the same week was -0.34%.
The car segment was down -0.86%, compared to the prior week’s -0.52%. And truck/SUV segment prices declined -0.55%, versus the previous week’s -0.32%. Not a single segment out of the 22 saw values increased for the week.
“The Canadian market continued to decrease, with declines increasing slightly,” said CBB in its Market Insights report. “Supply is building, with decreasing demand for vehicles at auction on both sides of the border.”
In the United States, the overall car and truck segments decreased -0.26%, compared to the prior week’s -0.33%. The volume-weighted car segments dropped -0.18% (it was -0.22% the week before), while trucks were down -0.29% (versus the previous week’s -0.38%).
In Canada’s car segments, the least of the decreases were seen from the premium sports car category (-0.02%). Mid-size cars declined -0.73%, while near luxury cars were down -0.76%. The most significant decreased came from full-size cars (-1.77%) and prestige luxury cars (-1.57%).
For trucks/SUVs, all segments experienced a decline — with the largest coming from small pickups (-1.35%) and compact luxury crossovers/SUVs (-1.25%). Other segments with noteworthy decreases include full-size pickups (-0.80%) and full-size crossovers/SUVs (-0.69%).
The average listing price for used vehicles, as the 14-day moving average, was approximately $37,000. The analysis is based on around 220,000 used vehicles listed for sale on Canadian dealer lots, according to CBB.
In other news, the Canadian dollar hovered around $0.744 on Monday morning, which is similar to the $0.741 from a week earlier.
CBB’s full report is available here.
