Canadian wholesale used-vehicle prices continued to soften last week, posting their largest weekly decline in several weeks as seasonal trends weighed on both car and truck values.
According to Canadian Black Book’s Market Insights report for the week ending July 11, the overall wholesale market declined 0.51 per cent. Car segment values fell 0.61 per cent, while truck and SUV segments declined 0.43 per cent. Both categories recorded steeper losses than the previous week and exceeded the historical average decline for the same period.
Among cars, subcompact cars recorded the largest weekly decline at 1.33 per cent, extending the segment’s losing streak to eight consecutive weeks. Prestige luxury cars also fell sharply, down 1.27 per cent. Every reported car segment declined during the week, marking the first time since mid-June that all car categories posted losses.
Truck and SUV values also weakened. Compact vans led the declines, falling 2.38 per cent, followed by full-size crossovers/SUVs at 0.98 per cent and minivans at 0.74 per cent. Full-size luxury crossovers/SUVs were the only segment to post a gain, edging up 0.06 per cent.
Canadian Black Book said approximately 73 per cent of market segments recorded average value movements greater than $100. Auction conversion rates continued to fluctuate as sellers maintained firm floor prices, while a modest increase in auction inventory was offset by upstream sales channels that continue to absorb much of the available supply. Demand for clean, late-model vehicles remained strong at auctions in both Canada and the U.S.
On the retail side, the average advertised used-vehicle price slipped slightly to about $36,900 based on approximately 169,000 dealer listings nationwide.
Canadian Black Book also noted several broader industry developments worth watching. June new vehicle sales rose 1.9 per cent year over year, ending an eight-month streak of declines. Subaru repriced the 2027 Solterra to qualify for the renewed federal EVAP incentive, Kia announced its upcoming electric PV5 commercial van for Canada, and the Gordie Howe International Bridge is now scheduled to open July 27, a development expected to improve cross-border trade and logistics.
