A somewhat interesting thing occurred in the Canadian used wholesale market: while prices did decline, at -0.36% for the week ending on April 20, the overall market, car segment, and truck/SUV segment declines were all similar and hovered close to the prior week — though far from the 2017-2019 average of the same period.
The market saw prices decline -0.36% compared to the previous week’s -0.34%, while the car segment declined -0.35% compared to the prior reporting period’s -0.38%. Trucks/SUVs saw prices drop -0.36%, compared to the previous week’s -0.30%. Two out of 22 segments’ values increased for the week: compact vans and small pickups.
“The Canadian market continued to decrease, with declines that were similar to the prior week,” said Canadian Black Book in its Market Insights update. “Supply is building with stable demand for vehicles at auction on both sides of the border.”
In the car category, the segments that showed the least decline were premium sports cars (-0.10%) and near luxury cars (-0.11%). The most significant decline came from compact cars (-1.11%) and sub-compact cars (-0.78%), followed closely by mid-size cars (-0.74%).
For trucks/SUVs, the segments with the largest decreases came from compact crossovers/SUVs (-0.85%), full-size pickups (-0.56%), minivans (-0.53%), and full-size vans (-0.50%). On the up side, there were two segments that shared the same increase: compact vans and small pickups (+0.57%).
CBB said the average listing price for used vehicles “was slightly down week-over-week, as the 14-day moving average was at $34,300.” The analysis is based on around 220,000 used vehicles listed for sale on Canadian dealer lots.
The full report is available here.
