Of note this week: the Canadian used wholesale market experienced a decline in prices of -0.26% for the week ending on March 16, which is lower than the prior week’s -0.31% and slightly closer to that 2017-2019 average of -0.13% for the same period.
Based on Canadian Black Book’s latest Market Insights report, the car segment was down -0.40% compared to last week’s -0.51%. Truck/SUV segment prices declined -0.13%, versus the prior week’s -0.10%. And three out of 22 segments’ values are up for the week.
“The Canadian market continued to decrease, with declines that were close to the prior week,” said CBB in its update. “Supply is building with decreasing demand for vehicles at auction on both sides of the border. Upstream channels continue to tap supply before it can be available to wholesale markets.”
In the United States, the overall car and truck segments were up +0.17% last week, though down the week before that by -0.05%. The volume-weighted car segments increased +0.02%, versus the previous reporting period’s -0.14%. And the volume-weighted truck segments were up +0.24%, compared to the prior week’s -0.02%.
In Canada, the car segments with the smallest declines were premium sports cars at -0.09% and sports cars with -0.10%. Sub-compact cars experienced the most significant decline at -1.45%, followed by compact cars at -0.91% and prestige luxury cars at -0.88%.
For trucks/SUVs, the most notable declines came from full-size vans (-0.62%), sub-compact luxury crossovers (-0.38%), and full-size pickups (-0.37%). Only three segments managed an increase: full-size crossovers/SUVs (+0.47%), compact crossovers/SUVs (+0.26%), and full-size luxury crossovers/SUVs (+0.09%).
The full report is available here.
