Decline in used vehicle prices un-phenomenal, but cars and trucks notable

This week, dealers will notice little change in the Canadian used wholesale market where prices are concerned, but they will see adjustments in the declines experienced by the car and truck/SUV segments.

The overall market was down -0.41% for the week ending on July 13, less than the prior week’s -0.44% — an un-phenomenal change. However, the car segment was down -0.31% compared to the previous week’s -0.57. And truck/SUVs segment prices declined -0.49%, versus the prior week’s -0.33%.

“The Canadian market is experiencing a decline similar to that of the previous week,” said Canadian Black Book in its update. “This week, 45.5% of market segments saw an average value change greater than ±$100, showing a slight decrease compared to the previous week. Among these segments, truck segments saw a decrease 18% larger than that observed in car segments.”

In the car category, the premium sports car segment showed no change, with prestige luxury cars (-0.05%) and sub-compact cars (-0.17%) revealing only small declines. The most notable decreases came from near luxury cars (-0.77%%), sports cars, (-0.63%) and compact cars (-0.46%).

For trucks/SUVs, the largest declines came from mid-size crossovers/SUVs (-1.05%), compact crossovers/SUVs (-0.93%), and mid-size luxury crossovers/SUVs (- 59%). The segments that experienced the smallest depreciation were sub-compact crossovers (- 0.05%) and full-size vans (-0.14%).

The average listing price for used vehicles, as per the 14-day moving average, was at $34,000. The analysis is based on around 220,000 used vehicles listed for sale on Canadian dealer lots, according to CBB.

 

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