A less intense decline was experienced for the week ending on May 11, when considering Canadian used wholesale market prices. They were down -0.28% during this period, compared to -0.44% the prior week. The 2017-2019 average was -0.09%.
According to Canadian Black Book’s latest update on the market, the car segment fell by -0.20% compared to last week’s -0.33%. For truck/SUV segment prices the decline was -0.35% this week, compared to the prior reporting period’s -0.54%. Two segments experienced an increase in values for the week: full- size cars at +0.43%, and prestige luxury cars at +0.03%.
“The Canadian market continued to decrease, with declines that were less than the prior week,” said CBB in its Market Insights report. “Supply is building with stable 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 car category, the most significant decline came from compact cars at -0.72%, followed by mid-size cars at -0.62%. CBB said full-size cars and prestige luxury cars are the only two segments to show an increase in pricing, up +0.43% and +0.03%, respectively.
As for trucks/SUVs, it is the same as in the previous week: “all segments reflected a weakening,” said CBB. Those with the most significant decrease were full-size pickups (-0.95%) and full-size vans (-0.65%). Sub-compact crossovers and compact luxury crossovers/SUVs had the same decrease at -0.38%. And compact crossovers/SUVs, minivans, compact vans, and small pickups also experienced equal declines at -0.34%.
The average listing price for used vehicles was slightly down week-over-week, as the 14-day moving average was at $33,900. This analysis is based on approximately 220,000 used vehicles listed for sale on Canadian dealer lots.
Read the full report here.
