The Canadian used wholesale market experienced a decline of -0.19% in pricing for the week ending on March 1, similar to the prior week’s -0.22% and the 2017-2019 average of -0.18% for the same period.
The data was provided by Canadian Black Book, which also noted that car segment prices were down -0.20%, similar to the previous week, while truck/SUV segments decreased by -0.18%, compared to the prior week’s -0.21%. The largest declines in the car segments came from full-size cars and mid-size cars. For trucks/SUVs, it was full size luxury crossovers/SUVs and sub-compact luxury crossovers/SUVs.
“The Canadian market remains on a downward trend, similar to the decline in its previous week,” said CBB in its Market Insights update. “Just over 27% of the market segments experienced an average value change of more than ±$100.”
As for the increase in supply entering the wholesale market, they said this continues to slow down, but that 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.”
In the car segments, the largest reductions came from full-size cars (-0.52%), while mid-size cars and prestige luxury cars experienced the same decline (-0.46%). Sub-compact cars were the only segment to see an increase, at +0.25%.
As for trucks/SUVs, increases were experienced by compact vans (+0.02%) and full-size pickups (+0.29%). On the downside, 11 segments saw values depreciate — the largest coming from full-size luxury crossovers/SUVs (-0.66%), sub-compact luxury crossovers (-0.65%), and minivans (-0.42%).
The average listing price for used vehicles has been declining, as the 14-day moving average was at $34,000. The analysis is based on around 220,000 used vehicles listed for sale on Canadian dealer lots, according to CBB.
