The Canadian used wholesale market experienced a decline in prices of -0.27% for the week ending on April 27, ending the month with a slight increase from the prior week’s -0.36%, according to Canadian Black Book latest Market Insights report. The 2017-2019 average for the April 27 period was -0.15%.
The car category was down -0.35%, unchanged from the previous week’s report. However, trucks/SUVs saw a decline of -0.21%, which is up from the prior week’s -0.36%. Four out of 22 segments’ values increased for the week — the top two being premium sports cars (up +0.06%) and full-size crossovers/SUVs (+0.20%).
“The Canadian market continued to decrease, with declines that were similar to the prior week,” said CBB in its update. “Supply is building with stable demand for vehicles at auction on both sides of the border.”
In the car category, the most significant decline came from sub-compact cars (-1.20%) and compact cars (-1.08%). However, premium sports cars (as previously mentioned) did see an increase, and was followed closely by luxury cars (-0.08%), which did not experience an increase. Both full-size cars and mid-size cars decreased by -0.10%.
For trucks/SUVs, the segments with the largest declines were sub-compact crossovers (-0.75%), minivans (-0.60%), and compact luxury crossovers/SUVs (-0.55%). CBB also noted that three segments showed increases: full-size crossovers/SUVs (+0.20%), full-size luxury crossovers/SUVs (+0.04%), and mid-size crossovers/SUVs (+0.02%).
The average listing price for used vehicles, as per the 14-day moving average, was slightly down week-over-week, at $34,300. The analysis is based on approximately 220,000 used vehicles listed for sale on Canadian dealer lots, according to CBB.
You can read the full report here.
