Canadian wholesale used-vehicle prices fell more sharply in the first week of 2026, with both car and truck/SUV segments posting broader declines than the week prior.
For the week ending Jan. 3, overall wholesale pricing dropped 0.54 per cent, compared with a 0.32 per cent decline the previous week. Car segments were down 0.56 per cent and truck/SUV segments fell 0.52 per cent, according to Canadian Black Book’s first Market Insights report for 2026.
Among cars, the full-size car category was the lone standout, rising 0.32 per cent. The steepest declines were in sub-compact cars (-0.76 per cent) and prestige luxury cars (-0.69 per cent), followed by premium sporty and luxury cars.
On the truck/SUV side, weakness was led by compact vans (-2.43 per cent) and sub-compact luxury crossovers/SUVs (-1.44 per cent). Minivans (-1.00 per cent) and sub-compact crossovers (-0.74 per cent) also posted notable declines. Full-size crossovers/SUVs were flat.
The report said the downward trend continues as sales rates fluctuate across auction lanes. While supply has stabilized, upstream channels are still prioritizing access to inventory, and sellers are supporting firm floor prices. Buyer demand for high-quality vehicles remains active on both sides of the border. On the retail side, the 14-day moving average used listing price edged down to $36,520, based on about 206,460 vehicles listed on Canadian dealer lots.
The mix of deeper wholesale declines and firm floor prices is a reminder for dealers to stay disciplined on acquisition bids, especially in van and smaller luxury crossover categories, while watching retail turn rates as listing prices soften.
In other news, the report said BYD became the world’s highest-volume EV automaker for the first time after a second straight annual sales decline for Tesla, while the global EV market grew 28 per cent. It also flagged potential volatility ahead as the U.S. Supreme Court could rule on the legality of tariffs imposed by President Donald Trump, with the Canada-U.S.-Mexico Agreement also up for review.
