The Canadian used wholesale market was down -0.35% in pricing for the week ending on July 12, according to Canadian Black Book’s Market Insights report.
Last week, that decline was -0.13%, while the 2017-2019 average of the same period as July 12 was -0.21%.
“The Canadian market’s decline in pricing continues with a decline more pronounced than in its previous week,” said CBB in its report. “Just over 40% of the market segments experienced an average value change of more than ±$100.”
Car segment prices were notably down, by -0.41% when compared to the prior week’s -0.04%. The largest declines in the car segments came from prestige luxury cars at -0.62% and near-luxury cars at -0.46%. (On the upside was compact vans at +0.37% and full-size cars at +0.27%.)
For trucks/SUVs overall, segments decreased by -0.29% — about 9% more than in the previous report. The greatest declines were seen in mid-size luxury crossovers/SUVs at -0.72% and mid-size crossovers/SUVs with -0.58%.
The average listing price for used vehicles is up slightly, as the 14-day moving average was at $37,500. The analysis is based on around 220,000 used vehicles listed for sale on Canadian dealer lots.
“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. “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 United States, CBB said depreciation picked up speed last week after the July 4th holiday, though they noted that activity at auctions remained strong. CBB said nationwide conversion rates are holding steady — within the high 50% range, and that newer used full-size pickups warrant attention.
In other news, the new U.S. tariff threat of 35% is no secret — and is set to go into effect on August 1st if Canada cannot provide a plan to “further reduce the flow of Fentanyl across the U.S. border,” said CBB.
Ontario mayors are lobbying the Canadian government to follow Quebec’s approach in allowing hybrids to comply with its provincial ZEV mandate. And the federal government has released plans on paying back the money dealers are owed from the iZEV program.
“Canadian Tesla registrations have fallen 67% in the first half of 2025 compared to last year as the EV brand has been souring its reputation in the industry over political views, public scrutiny and increased price volatility, burning both dealers and consumers alike in the buying and selling of new and used Tesla models,” said CBB.
And AutoCanada CEO, Paul Antony is stepping down from a position he has held since 2018. The group operates 64 new vehicle stores in Canada, and another 18 in the U.S.
