Canadian used wholesale prices fell 0.41 per cent in the week ending Jan. 10, according to Canadian Black Book’s Market Insights report dated Jan. 13.
Cars were down 0.28 per cent, improving from a 0.56 per cent drop the prior week and slightly better than the 2017–2019 average decline for the same week (0.34 per cent). Truck and SUV values fell 0.52 per cent, matching last week’s slide and weaker than the pre-pandemic average decline of 0.37 per cent.
Among car segments, the steepest weekly drops were in full-size cars (down 1.54 per cent), sub-compact cars (down 1.29 per cent) and mid-size cars (down 0.95 per cent). Prestige luxury cars and premium sporty cars both posted smaller declines of 0.11 per cent, while near-luxury cars fell 0.13 per cent.
On the truck and SUV side, sub-compact crossovers/SUVs led declines at 1.37 per cent, followed by full-size crossovers/SUVs at 1.20 per cent. Minivans and compact vans fell 0.77 per cent and compact crossovers/SUVs were down 0.56 per cent. The smallest moves were in compact luxury crossovers/SUVs (down 0.12 per cent), full-size vans (down 0.25 per cent) and small pickups (down 0.27 per cent).
The report said about 68 per cent of segments showed average value changes beyond plus or minus $100. Auction conversion rates ranged from 23.7 per cent to 95 per cent, averaging 50.8 per cent, as sale rates continued to fluctuate. Retail asking prices also edged down, with the 14-day moving average at $36,700 across roughly 191,000 used vehicles listed on Canadian dealer lots.
Overall, wholesale is still drifting lower, especially in crossovers. For this reason, dealers may decide to lean in on pricing discipline: tighter appraisals and faster turn targets can help protect front-end gross if retail prices keep easing.
