The Canadian used wholesale market saw pricing decline -0.01% for the week ending on April 19, a slight dip from Canadian Black Book’s previous report but still up from the 2017-2019 average of -0.12% for the same period.
Car segment prices were down -0.15%, also a dip from the prior week. And truck/SUV segments increased by +0.13%, from CBB’s previous report of +0.07%. The largest increases were seen in sub-compact luxury crossovers/SUVs and full-size crossovers/SUVs.
“The Canadian market continued its trajectory from last week, with cars dropping in value by -0.15% while trucks rose by +0.13%,” said CBB in its Markets Insights report. “Just over 35% of the market segments experienced an average value change of more than ±$100.”
In the car category, the largest declines came from sub-compact cars (-0.46%), followed by full-size cars (-0.44%). Mid-size cars and prestige luxury cars had the same decrease (-0.26%). And sports cars experienced an increase (+0.16%).
For trucks/SUVs, the largest upswing came from sub-compact luxury crossovers (+0.61%), followed by full-size crossovers/SUVs (+0.58%), and full-size pickups (+0.51%). The largest decreases were seen in compact vans (-1.09%), minivans (-0.32%), and full-size vans (-0.26%).
In other news, CBB said it has been difficult and time consuming for automotive industry suppliers to calculate costs implicated by the steel and aluminum tariffs — “with companies drilling down several layers deep into their supply chain to determine what is impacted and at what capacity.”
As for OEMs, Toyota is now considering producing the next generation RAV4 in Kentucky due to the tariff situation. It had originally planned to build the vehicle in its other two plants in Canada and Japan.
“Many brands have been monitoring the situation as decisions on price changes remain ‘fluid,’ but brands that will realize the greatest impact are those originating from the U.S., like GM, Ford, and Stellantis,” said CBB. “No brands have alluded to any immediate impacts on price.”
