Canada’s used wholesale market continued to soften in the week ending Dec. 20, with prices down 0.48% as depreciation remained broad across most segments, according to Canadian Black Book. CBB will not be updating their reports until early 2026.
What we know from the company’s last report of 2025 is that cars fell 0.38% for the week, while trucks and SUVs declined 0.61%, marking a slightly deeper pullback on the truck side compared with the prior week. The overall market move matched last week’s decline, signalling that the year-end slide is holding steady rather than accelerating.
Among car segments, the steepest depreciation was seen in full-size cars, down 1.49%. Compact cars fell 0.79% and mid-size cars declined 0.73%, while sub-compact cars were down 0.69%. Some segments were more stable, including near-luxury cars, which slipped 0.16%, and sporty categories, which moved less than 0.30%.
Truck and SUV segment declines were led by compact vans, down 1.77%, and minivans, down 1.37%. Full-size luxury crossovers and SUVs fell 0.92%, and mid-size crossovers were down 0.90%. At the other end of the range, sub-compact luxury crossovers posted a smaller decline of 0.26%.
Auction activity remained uneven. More than 77% of segments recorded average value changes exceeding ±$100, while monitored sale rates ranged from 18.8% to 82.5%, averaging 49.5%. Sellers continue to hold firm floor prices, contributing to fluctuating conversion rates even as supply levels stabilize and return to more typical patterns. Demand remains strongest for clean, high-quality vehicles, with competition persisting in auction lanes on both sides of the border.
On the retail side, used listing prices are easing slightly. The 14-day moving average listing price was $36,550, based on roughly 199,000 vehicles listed on Canadian dealer lots.
Overall, wholesale is still trending down, but it’s not a free fall. Dealers may need to stay disciplined on vans and minivans, be cautious on mid-size crossover exposure, and keep recon costs tight as spreads narrow heading into January.
