Canada’s used wholesale vehicle market continued to soften during the week ending July 4, although price declines slowed considerably from the previous week, according to the latest Canadian Black Book Market Insights report.
Overall wholesale values fell 0.06 per cent, an improvement from the 0.50 per cent decline recorded a week earlier. Car segments declined 0.09 per cent, while truck and SUV segments slipped 0.04 per cent, both outperforming historical averages for the same week.
Among passenger vehicles, the mid-size car segment posted the week’s strongest gain, rising 0.85 per cent. Sports cars and premium sports cars also edged higher. Offsetting those increases, subcompact cars recorded the steepest decline at 1.17 per cent, marking the segment’s seventh consecutive weekly drop, followed by compact cars, down 0.78 per cent.
Within trucks and SUVs, full-size luxury crossover/SUVs led gains with an increase of 0.81 per cent. The largest declines were seen in full-size vans, down 0.78 per cent, followed by subcompact luxury crossover/SUVs at 0.65 per cent and minivans at 0.45 per cent.
Canadian Black Book said roughly 36 per cent of market segments experienced average value movements greater than $100. Auction conversion rates remained mixed as seasonal conditions, political uncertainty and sellers maintaining firm floor prices continued to influence activity. Buyer demand for high-quality vehicles remained strong despite a modest increase in auction inventory.
On the retail side, the average advertised price of a used vehicle edged lower to $36,900, based on approximately 169,000 vehicles listed on Canadian dealer lots.
Canadian Black Book also pointed to several industry developments, including BYD’s continued progress toward entering the Canadian market, Honda’s renewed focus on hybrid vehicles, and BMW’s unveiling of the next-generation X5 with gasoline, plug-in hybrid and fully electric powertrains. The report also cited forecasts that declining battery costs could help make EVs more affordable over the coming decade.
