Canada’s wholesale used-vehicle market continued to soften during the week ending Aug. 1, although price declines moderated compared with the previous week, according to the latest Market Insights report from Canadian Black Book (CBB).
Overall wholesale values declined 0.16 per cent, an improvement from the 0.32 per cent drop recorded a week earlier. Car segments fell 0.17 per cent, while truck and SUV segments slipped 0.15 per cent. Both categories outperformed their respective pre-pandemic seasonal averages for the same week.
Among car segments, the mid-size car category posted the week’s strongest gain, rising 0.53 per cent, followed by compact cars at 0.36 per cent. Premium sports cars recorded the largest decline at 0.38 per cent, ahead of near luxury cars at 0.34 per cent.
Truck and SUV values also softened at a slower pace. Mid-size luxury crossover/SUVs rose 0.50 per cent, while subcompact crossovers increased 0.40 per cent. The steepest declines were recorded in compact vans, down 1.18 per cent, and full-size vans, which fell 0.99 per cent.
CBB said just over 45 per cent of market segments experienced average value movements greater than $100. Auction sale rates ranged from 10.8 per cent to 86.9 per cent, averaging 46.6 per cent. The report noted auction inventory has returned to typical seasonal levels, although upstream sales channels continue to receive priority access to inventory. Demand for high-quality vehicles remained strong on both sides of the border.
On the retail side, the average asking price for a used vehicle slipped slightly to $36,900, based on approximately 169,000 vehicles listed on Canadian dealer lots.
Industry news
CBB highlighted several developments affecting the automotive sector, including the opening of the Gordie Howe International Bridge between Windsor and Detroit. The report also noted production disruptions in Japan following a magnitude-7.1 earthquake, renewed discussions between Nissan and Honda on software-defined vehicle collaboration, Audi’s launch of the flagship Q9 and SQ9 SUVs, and Volvo’s announcement of the all-new electric EX50, expected in fall 2027.
