Canadian wholesale used-vehicle prices continued to decline in the week ending May 16, with truck and SUV segments leading the market downward, according to the latest Canadian Black Book Market Insights report.
Overall wholesale prices fell 0.32 per cent for the week. Car segments declined 0.20 per cent, while truck and SUV segments dropped 0.40 per cent.
Among cars, luxury car values recorded the largest decline at 0.52 per cent, followed by sports cars at 0.41 per cent. Compact car values posted one of the few gains, rising 0.26 per cent.
In the truck and SUV categories, full-size van values dropped 1.77 per cent, while minivan prices declined 1.29 per cent. Compact van values rose sharply by 1.46 per cent, making it the strongest-performing segment for the week.
Canadian Black Book said auction sale rates ranged from 25.2 per cent to 48.7 per cent, averaging 36 per cent across monitored lanes. The report noted that political conditions and firm seller pricing continue to influence auction performance. Inventory levels at auction have normalized, although upstream channels continue to prioritize access to available units.
Retail used-vehicle pricing also edged higher. The average listing price for used vehicles reached $37,750 based on approximately 201,000 dealer listings across Canada.
In other news, CBB highlighted growing uncertainty surrounding automakers’ electric vehicle strategies. Honda confirmed it has indefinitely suspended plans for new EV-related production facilities in Canada, citing changing consumer demand. Mazda also delayed the launch of planned EVs by two years, while Subaru announced a $362-million write-down tied to postponing one of its Japanese-market EV programs.
At the same time, zero-emission vehicle sales in Canada continued to grow. March ZEV sales reached 21,574 units, representing 12.2 per cent of overall sales and roughly double year-over-year levels following the launch of the Electric Vehicle Affordability Plan.
