Dealers may be interested to note that the Canadian used wholesale market experienced a slightly steeper decline, of -0.39% in pricing for the period ending on November 16, compared to last week’s -0.32%. The 2017-2019 average for the same period as this week’s update was -0.27%.
The data was pulled from Canadian Black Book’s Market Insights report, which showed that car segment prices decreased by -0.45% — much more than the prior week’s -0.18%. For truck/SUV segments prices were down -0.34% compared to the previous reporting period, when it was -0.44%. The largest decline in the car segments came from luxury cars. In the truck/SUV segments it was sub-compact crossovers.
“The Canadian market continues a downward trend, with a decline slightly more pronounced than in its previous week,” said CBB in its update. “Just over 45% of market segments experienced an average value change of more than ±$100, once again mirroring last week’s change. Among these, the decline in car segments increased by 27% compared to the week prior.”
In the car category, compact cars (-0.04%) decreased the least with luxury cars (-0.05%) and premium sports cars (-0.13%) coming in close behind. The largest decreases came from sub-compact cars (-0.58%), sports cars (-0.51%), and mid-size cars (-0.26%).
For trucks/SUVs, segments with the largest declines were sub-compact crossovers (-0.67%) and full-size luxury crossovers/SUVs (-0.56%). CBB also said four segments had the same depreciation: sub-compact luxury crossovers, mid-size luxury crossovers/SUVs, minivans, and compact vans (-0.42%). The smallest declines came from full-size pickups (-0.03%) and full-size vans (-0.10%).
The average listing price for used vehicles, as per the 14-day moving average, was at $34,300. The full CBB report is available here.
