Slight and sometimes noteworthy shifts continue to be seen when eyeing data from Canadian Black Book on the Canadian used wholesale market, which experienced a decline of -0.48% in pricing for the week ending on January 11.
The market was down -0.14% a week earlier, while the 2017-2019 average for the same period as this report was -0.36%. Car segment prices were down more too, by -0.32% compared to the prior week’s -0.23%. And truck/SUV segments decreased -0.62% — a much steeper decline when considering the previous report showed a -0.06% drop in pricing.
“The Canadian market remains on a downward trend, with a decline more pronounced than in the week prior. Just over 40% of market segments experienced an average value change of more than ±$100,” said CBB in its update. “The decrease in the truck segments rose by 56%, while that of the car segments increased by 9%. Monitored auction sale rates ranged from 28.8 to 80.8% averaging at 49.5%.”
In the car category the segments with the smallest declines were mid-size cars (-0.17%), full-size cars (-0.22%), and sub-compact cars (-0.23%). The largest decreases came from compact cars (-0.48%), luxury cars (-0.43%), and near luxury cars (-0.34%).
For trucks/SUVs, the largest declines were experienced by compact luxury crossovers/SUVs (-1.12%), mid-size luxury crossovers/SUVs (-1.07%), compact crossovers/SUVs (-1.01%), and mid-size crossovers/SUVs (-0.84%). Only one segment managed an increase and that was minivan (+0.21%).
“There has been a continuous fluctuation in sale rates across various auction lanes that can be attributed to several factors, including the recent adjustments to interest rates and the ongoing gradual decline in floor prices,” said CBB. “The increase in supply entering the wholesale market has increased in comparison to previous weeks, however upstream channels continue to gain early access.”
