The Canadian Black Book Used Vehicle Value Index rebounded in March, climbing back up to 105.1 from 104.7, according to CBB’s latest report. The index now hovers within a tenth of a point of the all-time record high.
“As the Canadian market enters the spring selling season, demand is expected to pick up across the board, with some seasonal strength in the sporty fair-weather car segments,” said CBB.
The largest gains since March 2018 were witnessed in the Compact Luxury SUV/CUVs department, thanks to a significant 23 point jump in value. That being said, the category was down almost a point from last month.
Subcompact Cars also experienced an increase in value by 7.4 points, and Midsize Cars revealed a 3.6-point increase. The same category rose 1.4 points from February 2019.
Premium Sports Cars and Full-Size Vans climbed 1.5 points.
Larger, more expensive and high-end cars demonstrated a weaker performance, year-over-year.
Luxury Cars were down 6.6 points in that time, and Prestige Luxury Cars dropped 5.9 points.
The Full Size Car segment declined 4.8 points over the past twelve months.
“Compared to last month there was very little noteworthy downward activity,” said Brian Murphy, VP Research & Editorial at Canadian Black Book. “The $0.75 Canadian dollar helps to keep the opportunities open for vehicle exports to the U.S. to continue with strength.”
