Canadian Black Book’s latest Market Insights report reveals the used wholesale market has experienced a decline in pricing of -0.33% for the week ending on November 30 — unchanged from the prior week, and similar to the 2017-2019 average of the same period.
For the car segments, prices decreased by -0.19% compared to last week’s -0.26%; and trucks/SUVs were down -0.45% versus the previous update of -0.39%. The largest decline came from compact luxury crossovers/SUVs, and for cars it was luxury cars.
“The Canadian market remains on a downward trajectory, with a decline similar to its previous week,” said CBB in its update. “Just over 40% of market segments experienced an average value change of more than ±$100. Among these, the decline in car segments decreased by 7% compared to the week prior.”
In the car segments, no change was seen from mid-size cars, near luxury cars, and sports cars. The largest decreases came from luxury cars (-0.78%), compact cars (-0.31%), and prestige luxury cars (-0.27%).
For trucks/SUVs, the segments that experienced the largest declines were compact luxury crossovers/SUVs (-0.81%), full-size luxury crossovers/SUVs (-0.67%), full-size pickups (-0.64%), and full-size crossovers/SUVs (-0.61%). No change in pricing seen from small pickups, sub-compact crossovers, and sub-compact luxury crossovers.
In the United States the market experienced a slight decline of just over a quarter percent, which CBB said was notably less than the pre-pandemic average of -0.82% for the same week. “This is also a marked improvement compared to the same time last year when the market experienced a substantial decline of -1.86%.”
