The Canadian used wholesale market saw a decline of -0.34% in pricing for the week ending on Sept. 21, according to Canadian Black Book — a decline that rose from the prior week’s -0.45%, but remained steeper than the 2017-2019 average of -0.25% for the same period.
In its Market Insights report, CBB revealed car segment prices were down -0.37% compared to last week’s -0.51%. Truck/SUVs segments also slipped, -0.31%, which is slightly less than the prior period’s -0.39%. All declines were, of course, steeper than the 2017-2019 average of the same week.
“The Canadian market continues a downward trend, with a decline less pronounced than the previous week,” said CBB in its update. “Just over 59% of market segments experienced an average value change of more than ±$100, indicating a lower rate than the previous week. Among these, car segments experienced a decline 14% less (than) compared to the previous week.”
In the car category, sub-compact cars were down -0.03%, while premium sports cars dipped -0.12%, and mid-size cars declined -0.28%. These segments showed the smallest declines. The largest decreases came from full-size cars (-0.97%), luxury cars (-0.54%), and prestige luxury cars (-0.53%).
For trucks/SUVs, the segments with the largest declines were sub-compact luxury crossovers (-1.11%), sub-compact crossovers (-0.81%), full-size luxury crossovers/SUVs (-0.64%), and minivans (-0.58%). On the up side, compact vans experienced a minor positive change (+0.10%).
The average listing price for used vehicles, as the 14-day moving average, was stable at $34,400. This analysis is based on around 220,000 used vehicles listed for sale on Canadian dealer lots, according to CBB.
