The most notable difference in the Canadian used vehicle wholesale market, where prices are concerned, came not from the overall market or trucks/SUVs but from the car category.
While prices for the overall market declined -0.28% for the week ending on July 27, on par with the 2017-2019 average of the same week and slightly off from the previous week’s -0.37%, the decline in prices from the car segment was more noticeable when comparing it to the prior week. It dropped -0.21% this week, a visible improvement from the -0.40% last week.The decrease in segment prices for trucks/SUVs remains unchanged.
“The Canadian market continues to show a gradual decline. More than 27% of market segments saw an average value change greater than ±$100, showing a slight decrease compared to the previous week,” said Canadian Black Book in its Market Insights report.
“Among these segments, car segments saw a decrease 13% larger than that observed in the truck segments,” they continued. “Monitored auction sale rates ranged from 25% to 77%. A continued drop in floor prices highlights the variations in sale rates across different lanes.”
In the car category, the smallest change came from compact cars (-0.02%), followed by full-size cars (-0.10%) and premium sports cars (-0.10%). Sports cars (-0.47%), near-luxury cars (-0.34%), and sub-compact cars (-0.32%) revealed the greatest decreases.
In the truck/SUV category, the largest depreciations were compact luxury crossovers/SUVs (-0.84%), mid-size luxury crossovers/SUVs (-0.62%), full-size vans (-0.57%), and small pickups (-0.53%). However, full-size crossovers/SUVs managed an increase (+0.03%).
The full report is available here.
