The rollercoaster continues with prices in the Canadian used wholesale market slipping to -0.31% from the prior week’s -0.23%.
According to Canadian Black Book, the car segment fell by -0.19% during the week ending on June 1, compared to the previous week’s steeper -0.33%. And truck/SUV segment prices dipped even lower at -0.42% from the prior week’s -0.14%.
“The Canadian market continued to decrease, with declines that were more than the prior week,” said CBB in its update. “Most segments saw a change in average value of more than $100 this week, as the truck segments decreased more than the car segments.”
In the United States, CBB said last week’s rate of depreciation accelerated, revealing the largest single week decline since mid-January. “The only segments continuing to report stabilization were the (sports) and premium sports (cars),” said CBB.
In Canada, the only car segment to experience an increase in pricing was sports cars at +0.02%, followed by premium sports cars at -0.04% and luxury cars at -0.07%. The most notable decrease came from sub-compact cars (-0.76%), followed by mid-size cars (-0.46%) and compact cars (-0.55%).
For trucks/SUVs, the segments with the largest depreciations were compact vans (-1.37%) and full-size pickups (-1.20%). Other segments with a noticeable decline include sub-compact crossovers (-0.63%), sub-compact luxury crossovers (-0.59%), and full-size vans (-0.54%).
The average listing price for used vehicles, as per the 14-day moving average, was $33,900. The analysis is based on approximately 220,000 used vehicles listed for sale on Canadian dealer lots, according to CBB.
