The Canadian used wholesale market, which saw prices decline -0.31% for the week ending on March 9, now moves away from the prior week’s decrease of -0.55% and closer to the 2017-2019 average of -0.21% for the same period.
That is according to Canadian Black Book’s latest Market Insights report, which also reveals that the car segment fell -0.51%, which is closer to the prior week’s -0.67% than the 2017-2019 average of -0.21% for the same period. But trucks/SUVs, down -0.10%, managed to dip lower than both the prior week’s -0.42% and the 2017-2019 average of -0.20%. Four out of 22 segments’ values increased for the week.
In comparison with the United States market, the overall car and truck segments decreased -0.05% last week and -0.16% the prior week. The volume-weighted car segments were down -0.14% (the previous week it was -0.10%), and trucks were down -0.02% (compared to -0.18% the prior week).
In Canada, full-size cars experienced the most significant decline with -1.66%, followed by luxury cars at -1.11%. The segments with the least amount of decline were premium sports cars (-0.14%), prestige luxury cars (-0.26%), and mid-size cars (-0.28%).
For trucks/SUVs, the segments with the most notable depreciation came from compact vans (-1.77%), full-size pickups (-0.59%), small pickups (-0.56%), and full-size vans (-0.54%). However, four segments saw increases: compact luxury crossovers/SUVs (+0.63%), full-size crossovers/SUVs (+0.61%), compact crossovers/SUVs (+0.25), and full-size luxury crossovers/SUVs (+0.22%).
The average listing price for used vehicles, as per the 14-day moving average, was approximately $36,700. 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.
