This week, the Canadian used wholesale market experienced a decline in prices for the week of -0.55%, which is slightly less than the prior week’s -0.70% but steeper than the 2017-2019 average of -0.23%.
According to Canadian Black Book’s latest update the car segment fell by -0.80% (the previous week it was -0.86%), while truck/SUV segment prices declined -0.29% (the prior week it was -0.55%). Only one segments’ values increased for the week.
“The Canadian market continued to decrease, with declines easing slightly from the prior week. Supply is building with decreasing demand for vehicles at auction on both sides of the border,” said CBB in its update. “Upstream channels continue to tap supply before it can be available to wholesale markets.”
In the United States, the car and truck segments were down -0.23% last week and -0.26% the prior week. The volume-weighted car segments decreased -0.17%, compared to the prior week’s -0.18%). And trucks declined by -0.26%; while the previous week it was -0.29%.
In Canada, the compact car category showed the most significant decline at -1.69%, followed by prestige luxury cars at -1.49%. The less steep of the lot came from premium sports cars at -0.09%. Full-size cars were down -0.46%, and sports cars declined -0.61%.
For trucks/SUVs, the largest declines came from full-size vans (-0.76%), small pickups (-0.72%), and sub-compact luxury crossovers (-0.65%). The two segments that showed an increase were compact vans (+0.48%) and full-size luxury crossovers/SUVs at +0.00% — which CBB still counts, although notes that it had a “negligible amount.”
The average listing price for used vehicles, as per the 14-day moving average, was approximately $36,900. The analysis is based on around 220,000 used vehicles listed for sale on Canadian dealer lots, according to CBB.
The full report is available here.
