The Canadian used wholesale market saw a decline of -0.13% in pricing for the week ending on October 26, which is less than the prior week’s -0.26% decrease in prices and less steep than the 2017-2019 average of -0.37% for the same period.
That is according to Canadian Black Book, which showed in its latest update that car segments prices were down -0.09% (previously it was -0.27%), while the truck/SUV segments saw prices fall -0.16% (compared to -0.25% a week earlier). The largest declines in the car segments came from sports cars and mid-size cars. For trucks/SUVs, it was compact crossovers/SUVs and mid-size luxury crossovers/SUVs — among others.
“The Canadian market continues a downward trend, with a decline noticeably less pronounced than in its previous week,” said CBB in its Market Insights report. “Just over 9% of market segments experienced an average value change of more than ±$100. Among these, the decline in car segments was 18% less than last week.”
They added that an increase in supply into the wholesale market has been noted once again, “despite upstream channels continuing to gain early access.”
In the overall car category, sub-compact cars (+0.02%) and luxury cars (+0.08%) experienced an increase, while full-size cars saw no change. The largest decreases came from mid-size cars (-0.35%), sports cars (-0.35%), and near luxury cars (-0.12%).
On trucks/SUVs, compact crossovers/SUVs had the largest decline in prices (-0.48%), followed by sub-compact crossovers and mid-size luxury crossovers/SUVs (-0.47%). Full-size pickups (+0.33%) and compact vans (+0.19%) had the largest increases.
As for the average listing price for used vehicles, CBB said it is increasing slightly as the 14-day moving average was $34,350. They said the analysis is based on around 220,000 used vehicles listed for sale on Canadian dealer lots.
