The Canadian used wholesale market experienced a decline of -0.10% in pricing for the week ending on January 25. A week earlier the decline was -0.17%, while the 2017-2019 average for the same period was -0.35%.
Car segment prices were down -0.19% from last week’s -0.05%. As for trucks/SUVs, segments dropped -0.01% compared to the prior week’s -0.27%. Large increases were seen in compact crossovers/SUVs and full-size crossovers/SUVs, according to Canadian Black Book’s Market Insights update.
“The Canadian market remains on a downward trend, with a decline far less pronounced than in its previous week,” said CBB in its update. “Just over 9% of market segments experienced an average value change of more than ±$100. The decrease in the truck segments fell by 26%, while that of the car segments rose by 14%.”
In the car department, the segments with the smallest declines were mid-size cars (-0.08%), full-size cars (-0.32%), and sub-compact cars (-0.23%). The largest decreases came from compact cars (-0.48%), luxury cars (-0.23%), and near-luxury cars (-0.08%).
For trucks/SUVs, CBB said the largest declines were seen in the sub-compact luxury crossover segment (-0.26%), full-size vans (-0.21%), and compact Luxury Crossovers/SUVs (-0.15%). Increases were seen from the compact crossover/SUV segment (+0.58%), full-size crossovers/SUVs (+0.21%), compact vans (+0.19%), full-size pickups (+0.10%), and sub-compact crossovers (+0.08%).
In terms of supply, CBB said the increase entering the wholesale market has slowed down in comparison to previous weeks, “however upstream channels continue to gain early access. As the new year continues, so does the high demand on both sides of the border for an increase in inventory and vehicles at auctions.”
In the United States, CBB characterized the market as “stable,” with depreciation slowing in alignment with pre-pandemic trends. “Last week, we saw our first segment slightly gain positive ground, they said. “Following an inventory increase post-holidays, we are now witnessing the anticipated impact of a low used supply for this year, leading to a weekly decline in total available inventory at auctions.”
