This week Canadian Black Book released data showing the used wholesale market experienced a decline of -0.05% in pricing for the reporting period that ended on Saturday. Last week that decline was -0.10%, while the 2017-2019 average for the same period was -0.28%.
Car segment prices decreased by -0.09%, which is -0.10% less than the prior week. And truck/SUV segments were flat at -0.00%, similar to the previous week. The largest declines in the car segments came from luxury cars and sub-compact cars, and for trucks/SUVs it was Minivans and full-size pickups.
“None of the market segments experienced an average value change of more than ±$100,” said CBB in its update. “The change in truck segments fell by 1%, bringing the overall change at steady 0%. While the decline of the car segments decreased by 10%, bringing its change to -0.09%.”
They added that there has been a continuous fluctuation in sale rates across several auction lanes stemming from factors that include the ongoing gradual decline or change in floor prices, and recent adjustments to interest rates.
In the car category, CBB said the segments with the slightest increase were sports cars (+0.03%), and premium sports cars (+0.01%). The largest decreases came from luxury cars (-0.29%), sub-compact cars (-0.21%), and mid-size cars (-0.19%).
For trucks/SUVs, eight segments saw a decline in values — the ones with the largest declines being minivans (-0.30%), full-size pickups (-0.24%), and compact vans (-0.17%). However, five segments also saw values spike, including mid-size crossovers/SUVs (+0.34%) and compact crossovers/SUVs (+0.18%).
In the United States, CBB said the market continued to be stable based on last week’s data, with depreciation following a normal seasonal pattern. “However, the main focus is now on the effects of tariffs on the automotive industry” should the tariffs come into effect after the 30-day pause.
