A sharper decline in pricing was observed in the Canadian used wholesale market for the week ending on November 7. Pricing was down -0.64% compared to the prior week’s -0.33%, and the 2017-2019 average of -0.30% for the same reporting period.
Canadian Black Book’s latest update also shows that car segment prices declined -0.62%, from a previous -0.19%. And the truck/SUV segments decreased -0.65%, from the prior week’s -0.45%. The only segment that experienced a positive change was full-size pickups.
“The Canadian market remains on a downward trajectory, with a decline far more pronounced than in its previous week,” said CBB in its Market Insights report. “Over 86% of market segments experienced an average value change of more than ±$100. The decrease in car segments rose by 43%, while the decline in the truck segments increased by 20%.”
In the United States, the market was down -0.63% compared to the previous week’s report of -0.29%, and a 2017-2019 average of -0.72% for the same period. Car segments slipped -0.66%, from the -0.33% observed a week earlier. And for trucks/SUVs, segments were down an overall -0.62%, from -0.28% in CBB’s previous report.
On the Canadian side, CBB also said “an increase in supply entering the wholesale market has been noted, despite upstream channels continuing to gain early access. As the year nears to an end there continues to be a high demand on both sides of the border for an increase in inventory and vehicles at auctions.”
In the car category, the three segments that decreased the least were luxury cars (-0.18%), prestige luxury cars (0.32%), and full-size cars (-0.49%). The largest decreases came from sports cars (-1.28%), mid-size cars (-1.16%), and near luxury cars (-0.78%).
For trucks/SUVs, the largest declines came from full-size crossovers/SUVs (-1.63%), compact vans (-1.62%), minivans (-1.34%, and sub-compact crossovers (-1.04%). As for the one segment that had a slight increase — full-size pickups — it was up by +0.04%.
The full report is available here.
