The Canadian used wholesale market experienced a decline in prices of -0.37% for the week ending on July 23. This is compared to the prior week’s not-far-off -0.41%, and the 2017-2019 average of -0.21% for the same period.
The car segment was down -0.40% compared to the -0.31% decrease experienced a week earlier. And truck/SUV segment prices declined -0.34%, versus the -0.49% seen the prior week.
“The Canadian market is experiencing a decline very similar to that of the previous week,” said Canadian Black Book in its weekly update. “Just over 30% of market segments saw an average value change greater than ±$100, showing a slight decrease compared to the previous week.”
Among these segments, CBB said the car segments experienced a decrease 6% larger than what was observed in the truck segments. “As more supply appears in the wholesale market, upstream channels continue to gain early access. This has led to an increase in inventory, driven by high demand on both sides of the border for vehicles at auctions.”
In the car category, premium sports cars showed no change, though prestige luxury cars were down -0.05% and sub-compact cars -0.17%. However, the largest decreases came from near-luxury cars (-0.77%%), sports cars (-0.63%), and compact cars (-0.46%).
In the truck/SUV category, the largest depreciations came from compact luxury crossovers/SUVs (-0.70%), mid-size luxury crossovers/SUVs (-0.57%), and full-size luxury crossovers/SUVs (-0.53%). Full-size pickups were up +0.20% and minivans +0.13%.
The average listing price for used vehicles, as per the 14-day moving average,. was $34,200 — stable. The analysis is based on approximately 220,000 used vehicles listed for sale on Canadian dealer lots, according to CBB.
