Canadian used-vehicle wholesale prices continued to decline last week, according to the latest Canadian Black Book (CBB) Market Insights report, as both car and truck segments recorded losses.
The overall wholesale market fell 0.29 per cent for the week ending June 13, a steeper decline than the historical average decline of 0.12 per cent for the same period between 2017 and 2019. Car segments declined 0.25 per cent, while truck and SUV segments fell 0.33 per cent.
Among car segments, compact cars recorded the largest decline at 0.73 per cent, followed by luxury cars at 0.50 per cent, full-size cars at 0.45 per cent and prestige luxury cars at 0.43 per cent. Mid-size cars were the only car segment to post a gain, rising 0.29 per cent.
Truck and SUV segments experienced broader weakness. Full-size luxury crossover/SUV models saw the largest decline at 1.55 per cent, followed by sub-compact luxury crossovers at 1.08 per cent and sub-compact crossovers at 0.82 per cent. Full-size crossovers/SUVs and mid-size crossovers/SUVs were among the few segments to record gains.
CBB said auction activity remained inconsistent, with sale rates ranging from 10.2 per cent to 83.7 per cent and averaging 41.6 per cent. The company noted that seasonal factors, political uncertainty and sellers maintaining firm floor prices continued to influence auction performance.
At retail, used-vehicle prices edged lower. The 14-day moving average listing price stood at approximately $37,300, based on about 169,000 vehicles listed on Canadian dealer lots.
The report also highlighted several broader industry developments, including a rise in zero-emission vehicle adoption, ongoing uncertainty surrounding the future of the Canada-United States-Mexico Agreement, and another delay to the opening of the Gordie Howe International Bridge.
