This week’s Canadian used wholesale market experienced a decline of -0.08% in pricing for the week ending on May 17. This is somewhat similar to the prior week and also the 2017-2019 average of the same period, based on Canadian Black Book’s recent Market Insights report.
CBB said the Canadian market’s slight decrease in pricing was less pronounced than in its prior week. Car segment prices were down by -0.11% from -0.20% a week ago, while truck/SUV segments decreased by -0.05% from -0.01% the prior week. The largest increases were seen in full size cars and sub-compact luxury crossovers/SUVs.
“There has been a continuous fluctuation in sale rates across various auction lanes that can be attributed to several factors including ongoing political variances and the gradual change in floor prices,” said CBB in its update.
“Supply has remained high in comparison to prior weeks; however upstream channels continue to gain early access,” they added. “There continues to be a high demand on both sides of the border for an increase in inventory and vehicles at auctions.”
The car segments with the largest depreciations were sports cars (-0.22%), mid-size cars (-0.17%), and prestige luxury cars (-0.15%). Full-size cars experienced an increase (+0.15%).
For trucks/SUVs, the largest declines were minivans (-0.29%), full-size vans (-0.17%), and compact luxury crossovers/SUVs (-0.16%). On the upside, sub-compact luxury crossovers (+0.11%) and compact crossovers/SUVs (+0.06%) were up.
The average listing price for used vehicles, as the 14-day moving average, was $37,920, based on around 220,000 used vehicles listed for sale on Canadian dealer lots, according to CBB.
