Slipping again, the Canadian used wholesale market saw a decline in prices of -0.38% for the week ending on May 18, compared to the prior week’s -0.28%.
That is according to Canadian Black Book’s Market Insights report, which also revealed the car segment was down -0.35% (compared to last week’s -0.20%), while truck/SUV segment prices declined -0.40% (compared to the prior period’s -0.35%). One segment saw an increase in values for the week and that was full-size luxury crossovers/SUVs — at +0.15%.
In the United States, an acceleration in the rate of decline was observed for the overall market last week, with only two segments reporting a decrease in value.
“Although there was some reduction in auction inventory, the volumes being sold by the larger sellers, especially in the OEM lanes, are reminiscent of those seen pre-COVID,” said CBB.
In Canada, the sports car category showed the least of declines with -0.08%, followed by premium sports cars at -0.18%. The most significant decrease came from sub-compact cars at -1.19%, followed by compact cars at -0.90% and mid-size cars at -0.26%.
For trucks/SUVs, the segments that experienced the most notable declines were compact vans (-1.26%), full-size pickups (-0.75%), sub-compact crossovers (-0.74%), and full-size crossovers/SUVs (-0.72%). However, as previously mentioned, one segment was up and that was full-size luxury crossovers/SUVs — at +0.15%.
The average listing price for used vehicles, as per the 14-day moving average, was $33,800. 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.
