This week, Canadian Black Book reported the used wholesale market experienced a decline of -0.35% in pricing for the period ending on June 7. That’s down from the previous report’s -0.18% and the 2017-2019 average of -0.12%.
Car segment prices were down -0.21% from -0.14% a week earlier, while truck/SUV segments decreased by -0.47% compared to the prior week’s -0.21%. The largest declines from the car segments came from mid-size cars and prestige luxury cars. For trucks/SUVs it was full-size crossovers/SUVs and mid-size luxury crossovers/SUVs.
“The Canadian market experienced a decrease in pricing, with a decline far more pronounced than in its previous week,” said CBB in its update. “Just under 41% of the market segments experienced an average value change of more than ±$100. Monitored auction sale rates ranged from 16.5% to 50.8% averaging at 31.9%.”
They added that there has been a continuous fluctuation in sale rates across auction lanes that. CBB said this can be attributed to a number of factors, including ongoing political variances and the gradual change in floor prices.
In the car category the most significant decreases came from mid-size cars (-0.38%), prestige luxury cars (-0.32%), luxury cars (-0.26%), and compact cars (-0.22%). Full-size cars was up slightly at +0.22%.
For trucks/SUVs the most significant declines were seen in the full-size crossover/SUV segment (-1.24%), mid-size luxury crossovers/SUVs (-0.89%), full-size luxury crossovers/SUVs (-0.77%), and full-size pickups (-0.46%). On the upside, compact crossovers/SUVs and compact luxury crossovers/SUVs each rose by +0.05%.
The average listing price for used vehicles, as per the 14-day moving average, was $38,200 based on around 220,000 used vehicles listed for sale on Canadian dealer lots.
