This week Canadian Black Book covered a few important updates in the automotive market: Mark Carney remains prime minister, with a minority government; the Detroit Three and several parts suppliers and dealer associations across the U.S. urged the Trump administration to repeal the tariffs imposed on the global auto industry; and the Canadian used wholesale market was flat for the week ending on April 26.
On the used vehicle side, car segment prices were down -0.15% (the same as the prior week), while truck/SUV segments were up +0.12% (also similar to the previous week). The largest increases were seen in full size pickups and full-size crossovers/SUVs at +0.41%. According to CBB, just under 23% of the market segments experienced an average value change of more than ±$100.
“Monitored auction sale rates ranged from 25.4% to 59.9% averaging at 38.6%,” said CBB in its Market Insights update. “Supply has remained high in comparison to prior weeks; 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.”
In the car department, the largest decreases came from prestige luxury cars (-0.30%), near luxury cars (-0.21%), and compact cars (-0.16%). A gain in values was seen from mid-size cars (+0.08%), sub-compact cars and sports cars (the latter two having the same increase of +0.03%).
For trucks/SUVs, segments with the largest gains were full-size pickups (+0.54%), full-size crossovers/SUVs (+0.41%), and minivans (+0.39%). On the down side were compact vans (-0.18%), sub-compact luxury crossovers (-0.15%), and compact luxury crossovers/SUVs (-0.11%).
In other news, the national zero-emissions vehicle mandate currently remains in place; Subaru plans to shift production of Canadian destined units away from the U.S.; and Porsche is expected to open its first Canadian Porsche Experience Centre (PEC) in June.
