The Canadian used wholesale market saw a decline of -0.14% in pricing for the week ending on Jan. 4, 2025, revealing a decrease that was less steep than the prior week’s -0.21% and the 2017-2019 average of -0.35%.
Based on Canadian Black Book’s Market Insights report car segment prices were down -0.23%, while trucks/SUVs dropped -0.06%. The largest declines in the car segments were seen in sports cars and prestige luxury cars, and compact vans and compact crossovers/SUVs for trucks/SUVs.
“The Canadian market continues its downward trend, with the decline less pronounced than in the week before,” said CBB in its update. “Under 14% of market segments experienced an average value change of more than ±$100. The decrease in the truck segments fell by 20%, while that of the car segments rose by 8%.”
In the car department, luxury cars were down -0.06%, premium sports cars -0.10%, compact cars -0.15%, and full-size cars -0.15%. These were the segments that saw the least declines. The largest came from sports cars (-0.43%), prestige luxury cars (-0.39%), near luxury cars (-0.32%), and sub-compact cars (-0.32%).
In the truck/SUV segments the largest declines came from compact vans, (-0.76%), compact crossovers/SUVs (-0.25%), and minivans (-0.21%). Increases were seen from full-size pickups (+0.08%), full-size vans (+0.07%), and sub-compact crossovers (+0.03%).
“There has been 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 slowed down in comparison to previous weeks, however upstream channels continue to gain early access.”
The full report is available here.
