Used vehicle price declines closer to prior week, further away from 2017-2019 average

The Canadian used wholesale market experienced a decline in prices of -0.61% for the week ending on Jan. 27 — inching closer to the prior week’s decline of -0.52% but further away from the 2017-2019 same-week average of -0.35%, according to Canadian Black Book.

A similar thing could be said for the car and truck/SUV segments: cars fell by -0.76% compared to the prior week’s -0.70%, and truck/SUV segment prices were down -0.46% compared to the previous -0.34%. However, the decline was steeper for cars than its 2017-2019 average for the same week (-0.28%). Two out of 22 segments’ values increased for the week.

In the United States, the overall car and truck segments decreased -0.33% during this period and -0.49% the prior week. The volume-weighted car segments declined -0.26% from the prior week’s -0.37%, while trucks/SUVs slid to -0.36% from-0.53% the week before that.

In Canada, the only increase came from premium sports cars (+0.15%), while the most significant declines were observed in the prestige luxury car category (-2.06%), followed by sub-compact cars (-1.98%) and compact cars (-1.91%).

For trucks/SUVs, not a single segment that saw a depreciation experienced one over 1.00%. The largest came from compact luxury crossovers/SUVs (-0.91%), full-size pickups (-0.80%), and sub-compact luxury crossovers (-0.74%). A single segment showed an increase: compact vans (+0.64%).

The average listing price for used vehicles, as the 14-day moving average, was approximately $37,200. The analysis is based on around 220,000 used vehicles listed for sale on Canadian dealer lots, according to CBB.

You can read the full report here.

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