Last week, Canadian Black Book’s update revealed the used wholesale market experienced a decline of -0.12% in pricing for the period ending on March 8. Prior to that the market was down -0.19%.
CBB said car segment prices decreased by -0.16%, less than the previous reporting period when it was -0.21%. And truck/SUV segments were down -0.08%, compared to -0.18% a week earlier. The largest increases came from full size crossovers/SUVs and sub-compact luxury crossovers/SUVs.
“The Canadian market remains on a downward trend, with a decline far less pronounced compared to its previous week,” said CBB in its Market Insights update. “Just over 36% of the market segments experienced an average value change of more than ±$100.”
CBB said there has been a continuous fluctuation in sale rates across auction lanes due to factors like the ongoing gradual decline/change in floor prices and recent political variances.
“The increase in supply entering the wholesale market continues to slow down, however upstream channels continue to gain early access. There continues to be a high demand on both sides of the border for an increase in inventory and vehicles at auctions,” said CBB.
In the car segments, the largest decreases came from full-size cars (-0.59%), sub-compact cars (-0.39%), and luxury cars (-0.32%). Only one segment showed an increase and that was sports cars (+0.10%).
For trucks/SUVs, the largest declines were compact vans (-0.78%), mid-size luxury crossovers/SUVs (-0.67%), and small pickups (-0.32%). However, five of the 13 segments reflected an increase in values — including full-size crossovers/SUVs (+0.81%), sub-compact luxury crossovers (+0.47%), and full-size pickups (+0.34).
The full CBB report is available here.
