The Canadian used wholesale market’s decline in prices did not stray far again, having declined -0.23% for the week ending on Aug. 10, compared to the prior week’s -0.26% — and -0.20% for the 2017-2019 average of the same week.
A closer look at Canadian Black Book’s latest update reveals the car segment fell by -0.20%, which is less than the previous reporting period’s -0.35%. Truck/SUV segment prices were down -0.26%, versus the prior week’s -0.18%. CBB said the market continues to show a steady gradual decline.
“Less than 23% of market segments saw an average value change greater than ±$100, showing a decrease compared to the previous week. Among these, truck segments saw a decrease 6% larger than that observed in the car segments. Monitored auction sale rates ranged from 12% to 96%,” said the company in its report.
In the car category, compact cars were up (+0.02%), along with luxury cars (-0.02%) and prestige luxury cars (-0.09%) — all showing the smallest declines. The largest decreases came from sub-compact cars (-0.53%), full-size cars (-0.49%), and mid-size cars (-0.36%).
For trucks/SUVs, full-size vans (-0.64%) experienced the largest decline, followed by compact luxury crossovers/SUVs (-0.55%) and mid-size luxury crossovers/SUVs (-0.53%). However, four segments managed slight increases, with full-size luxury crossovers/SUVs (+0.08%) and compact vans (+0.07%) experiencing the largest boost.
As for the average listing price for used vehicles, CBB said it is stable, with the 14-day moving average sitting at $34,400. The analysis is based on around 220,000 used vehicles listed for sale on Canadian dealer lots.
