Canadian used wholesale market prices were down -0.33% this week, for the period ending on November 23, which is similar to the prior week and the 2017-2019 average of the same period.
For car segment prices, the -0.26% this week was more notable compared to the previous reporting period, when it was -0.45%. Truck/SUV segments were down -0.39%, not far off from the prior week. The largest decline came from compact vans, while in the car segments it was mid-size cars.
“The Canadian market remains on a downward trajectory, with a decline less pronounced than in its previous week,” said Canadian Black Book in its update. “Fifty per cent of market segments experienced an average value change of more than ±$100. Among these, the decline in car segments decreased by 19% compared to the week prior.”
In the car segments, prestige luxury cars (-0.06%), compact cars (-0.16%), and full-size cars (-0.17%) decreased the least. The largest declines were seen from mid-size cars (-0.43%), sports cars (-0.39%), and sub-compact cars (-0.33%).
For trucks/SUVs the largest declines came from compact vans (-0.91%), full-size crossovers/SUVs (-0.79%), full-size vans (-0.67%), minivans (-0.62%), and mid-size luxury crossovers/SUVs (-0.61%). However, there was an increase — from full-size luxury crossovers/SUVs (+0.19%).
The average listing price for used vehicles, as per the 14-day moving average, was at $34,330.
In other news, Canada’s annual inflation rate jumped to 2% in October from 1.6% in September, exceeding market predictions of 1.9%. CBB also said retail sales in Canada are expected to have increased by 0.7% in October compared to September, based on a preliminary estimate. And the Canadian dollar hovered at $0.716 on Monday morning, up slightly from $0.712 a week ago.
