Canadian used-vehicle wholesale prices continued their gradual retreat in the week ending Aug. 8, with the overall market declining 0.19 per cent, according to the latest Market Insights data.
The decline was slightly steeper than the previous week’s 0.16 per cent drop, but remained better than the 2017-2019 same-week average decrease of 0.25 per cent.
Car values fell 0.10 per cent, improving from the prior week’s 0.17 per cent decline. The mid-size car segment recorded the sharpest decrease at 0.86 per cent, followed by prestige luxury cars at 0.23 per cent.
There were pockets of strength. Compact car values rose 0.56 per cent, while sub-compact car values increased 0.52 per cent.
The truck and SUV side weakened more quickly, falling 0.26 per cent compared with 0.15 per cent the previous week. Full-size crossover/SUV values posted the largest decline at 1.07 per cent, while compact van values dropped 0.87 per cent. Mid-size luxury crossover/SUV values gained 0.53 per cent.
About 41 per cent of market segments experienced average weekly value movements exceeding $100 in either direction. Auction sale rates across monitored lanes ranged from 16.0 per cent to 77.2 per cent and averaged 46.2 per cent.
Inventory has returned to more typical levels, although upstream channels continue to receive priority access to available vehicles. Demand for higher-quality units remains resilient in Canada and the United States.
On the retail side, Canadian used-vehicle prices remained broadly stable. A modest recent decline brought the 14-day moving average to about $36,900, while approximately 169,000 used vehicles were listed across Canadian dealer lots.
Meanwhile, U.S. wholesale depreciation accelerated to 0.57 per cent, more than double the pre-pandemic seasonal average of 0.25 per cent. Auction conversion improved roughly four percentage points to 58 per cent.
