Canadian used wholesale vehicle prices continued their downward trend during the week ending June 20, with the market declining 0.35 per cent, according to the latest Canadian Black Book Market Insights report.
Passenger car values led the decline, falling 0.42 per cent, while truck and SUV values slipped 0.29 per cent. The overall market decline was steeper than the previous week’s 0.29 per cent drop and exceeded the historical average decline of 0.19 per cent for the same period.
Among car segments, mid-size cars posted the largest decrease at 1.45 per cent, followed by sub-compact cars at 0.84 per cent and compact cars at 0.61 per cent. Sporty cars recorded the smallest decline at 0.12 per cent.
Within the truck and SUV market, mid-size luxury crossovers/SUVs fell 0.77 per cent, ahead of mid-size crossovers/SUVs at 0.59 per cent. Compact vans were the strongest-performing segment, gaining 1.54 per cent, while small pickups rose 0.38 per cent.
Canadian Black Book said about 45 per cent of market segments experienced average value changes greater than ±$100 during the week.
Auction sale rates ranged from 10.3 per cent to 76.2 per cent, averaging 43.2 per cent. The report said auction performance continued to fluctuate because of seasonal factors, political conditions and sellers maintaining firm floor prices. While auction inventory increased slightly, upstream sales channels continued to receive priority access to available vehicles.
The average asking price for used vehicles listed on Canadian dealer lots edged lower to $36,900 based on a 14-day moving average, with approximately 169,000 vehicles available for sale.
Canadian Black Book also pointed to several industry developments expected to affect the Canadian market. Among them, General Motors is expected to cut additional jobs at its Oshawa Assembly plant as production of the refreshed 2027 Chevrolet Silverado 1500 begins later this year. The automaker has not disclosed which facility will build the redesigned pickup, which features updated styling, new technology and revised engine options.
