After nearly holding steady a week earlier, Canadian used wholesale prices lost more ground in the week ending Sept. 12, as declines returned across both cars and trucks/SUVs.
Canadian Black Book (CBB) reported an overall market decline of 0.19 per cent, compared with a 0.05 per cent decrease the previous week. Even with the faster depreciation, the decline remained milder than the 0.26 per cent average recorded during the same week from 2017 to 2019.
| This week | Last week | 2017-2019 average | |
| Car segments | -0.21% | +0.01% | -0.27% |
| Truck/SUV segments | -0.17% | -0.09% | -0.25% |
| Market | -0.19% | -0.05% | -0.26% |
Car values declined 0.21 per cent after edging up 0.01 per cent a week earlier. The subcompact car segment posted the largest decline at 0.83 per cent, followed by mid-size cars at 0.73 per cent. The compact car category was the only car segment to increase, rising 0.28 per cent.
Truck/SUV values fell 0.17 per cent, with minivan down 0.61 per cent and mid-size crossover/SUV dropping 0.58 per cent.
There were pockets of strength. Subcompact luxury crossover/SUV recorded the largest increase across the market at 1.49 per cent, while subcompact crossover/SUV gained 0.68 per cent.
CBB said also the market’s decline had returned to more typical weekly levels. Half of the segments it tracks recorded average value movements greater than $100 in either direction.
Auction sale rates ranged from 14.3 to 64.2 per cent and averaged 38.1 per cent. CBB said auction inventory has returned to regular-high levels, while demand for high-quality vehicles remains strong in both Canada and the U.S.
On dealer lots, the 14-day moving average listing price slipped to approximately $38,500, based on about 165,000 used vehicles.
In other news, CBB also highlighted record Canadian new-vehicle hybrid market share of 16.8 per cent in the second quarter, representing 91,868 registrations and a 40 per cent year-over-year increase. Other developments included Stellantis’ Brampton plant talks, new EV product plans from Nissan, Toyota and Subaru, and Volvo’s decision to discontinue the EX40 in Canada and the U.S.
