This time around, the Canadian used wholesale market saw a decline in prices of -0.39% for the week ending on Feb. 24. That is less than the prior week’s -0.55%, and about an inch closer to the 2017-2019 average of -0.14% of the same period, according to Canadian Black Book.
Its data shows that the car segment was down by -0.55%, which is less than the previous week’s -0.80% (though not quite the 2017-2019 average of -0.12%). And trucks/SUVs slipped -0.24%, whereas it was down (similarly) -0.29% the prior week. The 2017-2019 average was -0.16%. Two out of 22 segments’ values increased for the week.
In the United States, the overall car and truck segments decreased -0.19% last week, and -0.23% the prior week.
For car segments in Canada, near luxury cars experienced the most significant decline (-0.88%), followed closely by prestige luxury cars. The least of the decreases came from full-size cars (-0.20%), premium sports cars (-0.23%), and sub-compact cars (-0.28%).
As for trucks, full-size pickups had the largest decrease (-1.03%), followed by sub-compact luxury crossovers (-0.59%) and full-size vans (-0.45%). On the upside, two segments revealed an increase: minivans (+0.50%) and small pickups (+0.01%) — though CBB notes the latter increase is perhaps somewhat negligible.
In other news, CBB said the direct-sales model many electric vehicle start-ups operated by “has not been working for all, as multiple carmakers such as Vinfast, Fisker, and Lucid have either opened dealerships or are planning to so that they can continue to move forward in their effort to gain sales volume and market share.”
The full report is available here.
