The Canadian used wholesale market saw a decline of -0.35% in pricing for the week ending on Sept. 7, which is slightly more than the prior week’s -0.29% and the 2017-2019 average of -0.26%.
According to Canadian Black Book’s latest market update, car segment prices declined -0.31%, compared to -0.43% from the previous week. And the truck/SUV segments were down -0.39%, versus the -0.16% experienced in the prior reporting period.
“The Canadian market continues to trend downward, with a decline more pronounced than the previous week,” said CBB in its update. “Exactly 50% of market segments experienced an average value change of more than ±$100, indicating a higher rate than the previous week. Among these, truck segments experienced a 23% larger decline compared to the previous week”
In the car category, the sub-compact cars (+0.04%) experienced an increase, while compact cars (-0.02%) and luxury cars (-0.04%) saw minor declines. However, the largest decreases came from sports cars (-0.69%), mid-size cars (-0.65%), and full-size cars (-0.45%).
In the truck/SUV category, the segments with the largest declines were mid-size luxury crossovers/SUVs (-0.75%), full-size luxury crossovers/SUVs (-0.63%), small pickups (-0.59%), and compact luxury crossovers/SUVs (-0.51%). Only full-size crossovers/SUVs (+0.04%) managed a small positive change.
The average listing price for used vehicles, as per the 14-day moving average, was $34,100. The analysis is based on around 220,000 used vehicles listed for sale on Canadian dealer lots, according to CBB.
In the United States, CBB said the used vehicle market continues to deviate from seasonal norms. The latest report showed 10 of the 22 vehicle segments tracked by Black Book as increasing in value last week. Meanwhile, most luxury segments continue to decline…
