Dealers keeping track of the Canadian used wholesale market may be interested to note the -0.48% decline in prices for the week. That decline is steeper than the -0.22% experienced during the previous reporting period from Canadian Black Book, and far from the pre-pandemic -0.19% decrease.
The car category fell by -0.21% this time around, the same as the prior week. Truck/SUV segment prices were down -0.73%, which is notable when compared to previous week’s -0.22 decline. The only positive segment was compact vans.
“Upstream channels have been accessing supply before it appears in the wholesale market, this has led to an increase in inventory, driven by rising demand for vehicles at auctions on both sides of the border,” said CBB in its Market Insights report.
They added that nearly 60% of segments saw an average value change exceeding $100 this week, “with truck segments experiencing a decrease 52% larger than that of the car segments.”
For cars, the segments with the smallest decreases came from premium sports cars (-0.09%), followed by sports cars (-0.11%) and mid-size cars (-0.16%). Those experiencing the largest decreases were full-size cars (-0.81%), compact cars (-0.42%), and sub-compact cars (-0.38%).
As for trucks/SUVs, the segments that experienced the largest declines were mid-size luxury crossovers/SUVs (-1.17%), compact luxury crossovers/SUVs (-1.14%), full-size pickups (-1.04%), and full-size luxury crossovers/SUVs (-0.73%). The only segment to manage an increase was compact vans at +0.57%.
The average listing price for used vehicles, as per the 14-day moving average, was $34,000 — which is slightly down, week-over-week. The analysis is based on around 220,000 used vehicles listed for sale on Canadian dealer lots, according to CBB.
