This past week the Canadian used wholesale market saw a decline in prices -0.22% for the period ending on June 15. The decline was closer to pre-pandemic figures, and less steep than the prior week’s -0.45%, according to Canadian Black Book’s Market Insights report.
That report shows the car segment was down -0.21% this time around, compared to the previous report’s -0.31%. And truck/SUV segment prices declined -0.22%, compared to the prior week’s -0.57%. The segment with the most notable increase in value for the week was minivans.
“The Canadian market continues its decline, almost mirroring the decreases seen in the previous week,” said CBB. “Supply continues to be accessed through upstream channels before becoming available in the wholesale market, leading to an increase in inventory as demand for vehicles at auction rises on both sides of the border.”
They added that only 14% of segments experienced an average value change exceeding $100 this week.
In the car segments premium sports cars was up +0.01%, followed by sports cars at -0.04% and near luxury cars at -0.07% — the latter two having experienced the smallest decreases. The greatest decrease came from sub-compact car (-0.78%), followed by compact cars (-0.50%) and prestige luxury cars (-0.49%).
For trucks/SUVs, the segments with the largest depreciations were full-size pickups (-0.83%) and sub-compact crossovers (-0.43%). The two segments that experienced increases are minivans (+0.34%) and compact luxury crossovers/SUVs (+0.02%).
In the United States declines continued, but the rate of depreciation slowed — from the last report’s -0.71% to this past week’s -0.55%. “Despite the reduced depreciation, the current rate of decline exceeds pre-pandemic norms for this time of year of -0.27%,” said CBB in its update.
