The Canadian used wholesale market saw prices drop -0.17% for the week ending on March 22, compared to the previous decline of -0.01% and the 2017-2019 average of -0.09%.
The data was pulled from Canadian Black Book’s latest update showing car segment prices were down by -0.11% this time around, not far off from the previous week. Truck/SUV segments decreased by -0.22%, a bit of a shift from the last reporting period when it was -0.12%.
The largest increases came from full size pickups at +0.22%, and full-size crossover/SUV at +0.20%. The most intense declines in the car segments were seen in sub-compact cars at -0.45%, and also compact cars with -0.32%. For truck/SUV segments, it was full-size vans at -1.37% and compact vans with -1.03%.
“The Canadian market continues to reflect a downward trend, with a decline slightly more pronounced compared to its previous week,” said CBB in its Market Insights update. “Just over 13% of the market segments experienced an average value change of more than ±$100.”
On monitored auction sale rates, CBB said these ranged from 32.3 to 71.4% —averaging at 52.3%. Fluctuations in sale rates across various auction lanes can be attributed to things like recent political variances, and the ongoing gradual decline/change in floor prices.
“A slight increase in supply entering the wholesale market has been noted, however upstream channels continue to gain early access,” said CBB. “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 category, the largest decreases came from sub-compact cars (-0.45%), compact cars (-0.32%), and luxury cars (-0.20%). Mid-size cars experienced a very minor increase (+0.01%).
For trucks/SUVs, the largest declines were full-size vans (-1.37%), compact vans (-1.03%), sub-compact crossovers, and mid-size luxury crossovers/SUVs — the latter two having the same decline (-0.36%). Six segments experienced an increase, including full-size pickups (+0.22%) and full-size crossovers/SUVs (+0.20%).
The average listing price for used vehicles, as per the 14-day moving average, is slightly decreasing. It now sits at $34,950. This analysis is based on around 220,000 used vehicles listed for sale on Canadian dealer lots, according to CBB.
