The Canadian used wholesale market was down -0.24% in pricing for the week ending on September 20, which is similar to the prior week’s decline.
That is according to Canadian Black Book’s latest Market Insights Report, which saw car segment prices decrease by -0.12% from the previous week’s -0.23%. This week’s positive segment was sub-compact cars at +0.08%. For truck/SUV segments, the category overall was down -0.33% compared to -0.22% from a week earlier.
“The Canadian market continues to trend downwards heading into this week,” said CBB in its update. “Truck segment values recorded a 0.11% change resulting in a total decline of -0.33%. Car segments also experienced a 0.11% adjustment, bringing its overall decline to -0.12%. Just over 36% of market segments recorded an average value change exceeding ±$100.”
In the car category, the largest decline in values came from full-size cars (-0.45%), compact cars (-0.23%), and prestige luxury cars (-0.20%). The smallest depreciations came from mid-size cars (-0.07%), premium sports cars (-0.08%), near-luxury cars and luxury cars (-0.09%).
On trucks/SUVs, the biggest downturn was seen in full-size luxury crossovers/SUVs (-0.83%), compact vans (-0.79%), minivans (-0.46%), and full-size pickups (-0.40%). The least notable declines came from small pickups (-0.01%), compact crossovers/SUVs, and sub-compact luxury crossovers (-0.14%).
CBB said this week’s monitored auction sale rates ranged from 19% to 87.1%, averaging 50.4%. “Sales rates across auction lanes have shown ongoing fluctuations, influenced by economic uncertainty, political factors, and sellers maintaining firm floor prices,” said CBB. “Supply levels remain stable; however, upstream channels are still gaining priority sale access to inventory.”
The average listing price for used vehicles, when considering the 14-day moving average, was at $37,600. This is based on around 220,000 used vehicles listed for sale on Canadian dealer lots.
