The Canadian used wholesale market saw an increase of +0.03% in pricing for the week ending on April 12, pulling itself out from last week’s very minor negative zone.
Car segment prices decreased by -0.01% from -0.04% a week earlier, while truck/SUV segments were up +0.07% compared to -0.01% the prior week. Based on Canadian Black Book, the market experienced a slight shift in trajectory, with notable increases compared to previous weeks.
“Just over 18% of the market segments experienced an average value change of more than ±$100,” said CBB in its Market Insights report.
In the car category, mid-size cars (-0.19%) experienced the largest decline, followed by sub-compact cars and luxury cars with the same decrease (-0.16%). However, full-size cars (+0.33%) had the largest decrease, followed by compact cars (+0.21%) and sports cars (+0.17%).
For trucks/SUVs, the largest increases came from compact vans (+0.71%), compact crossovers/SUVs (+0.37%), and full-size pickups (+0.25%). On the downside, the largest decreases came from minivans (-0.56%), full-size crossovers/SUVs (-0.32%), and full-size vans (-0.22%).
The average listing price for used vehicles, as per the 14-day moving average, was at $36,300, based on an analysis of around 220,000 used vehicles listed for sale on Canadian dealer lots.
CBB said there has been an increase in supply entering the wholesale market in comparison to prior weeks, but upstream channels are still gaining early access. On tariffs, they said the auto industry is not included in the 90-day delay from U.S. President Donald Trump.
“(Twenty-five per cent) duties will still be applied to auto imports into the U.S. with Canada’s reciprocal tariffs in return, affecting only those models that do not comply with the (CUSMA),” said CBB.
On OEMs, they said GM’s CAMI assembly plant in Ingersoll, Ontario — the one that assembles the electric BrightDrop commercial van — will lay idle for 5 months and 1,200 workers will be on layoff throughout the summer. CBB also said current demand for the vehicle is weak, selling only 292 units in Q1 this year.
In other news they said Clutch, the digital used vehicle retailer, opened a new reconditioning facility in Toronto “that will allow operations to scale the business. The organization currently purchases roughly $2 million worth of inventory daily.”
