Wholesale used-vehicle prices in Canada continued their gradual decline in early March, according to the latest Market Insights report from Canadian Black Book.
The report shows overall wholesale values slipping again during the most recent reporting period as the used-vehicle market continues to move toward more typical pricing patterns after several years of pandemic-driven volatility.
Both car and truck segments recorded declines, though the changes remained relatively modest compared with the sharper swings seen in previous years. The data suggests the market is continuing a slow correction as supply levels improve and pricing stabilizes.
“The Canadian market’s decline continues, though at a slower pace and showing a noticeable shift from the previous week,” said CBB in its update. “Truck segment values reflected a 0.31 per cent shift bringing the total change to -0.03 per cent. Car segment values presented a 0.03 per cent change, resulting in a total decline of -0.61 per cent.”
Canadian Black Book analysts said the used market is now entering the early stages of the spring selling season, which traditionally brings stronger demand at wholesale auctions.
Despite the recent declines, wholesale prices remain historically elevated compared with pre-pandemic levels. Strong demand for late-model used vehicles and limited supply have helped support values over the past several years.
More broadly, the Canadian automotive market is entering a period of adjustment in 2026 after several years of volatility. Canadian Black Book forecasts that used-vehicle values will begin to stabilize as depreciation patterns normalize and the market adapts to new affordability pressures.
At the same time, supply of used vehicles aged zero to eight years is expected to remain tight, declining by about 2.6 per cent, which could continue to support used-vehicle pricing even as values gradually soften.
Industry analysts said the coming months will provide a clearer picture of how supply, consumer demand and broader economic factors shape the used-vehicle market through the remainder of 2026.
In other news, Canadian new-vehicle sales in February were essentially flat year over year, down 0.2 per cent to an estimated 122,000 units, despite severe winter weather and ongoing trade uncertainty. Electrified vehicles continued gaining market share, with zero-emission vehicles reaching 12.1 per cent of sales in the fourth quarter of 2025, according to S&P Global. Meanwhile, rising tensions in the Middle East have pushed gasoline prices higher, with Canada’s national average increasing roughly 20 cents per litre in recent weeks.
