This week’s reported decline in Canadian used wholesale market prices dipped to -0.44% for the period ending on May 4, according to Canadian Black Book’s latest Market Insights report.
As a reminder, the prior week’s decrease was -0.27%, while the pre-pandemic 2017-2019 average of the same period was -0.19%. The car segment fell -0.33%, similar to the previous decline of -0.35%. And truck/SUV segment prices were down -0.54%, compared to the prior week’s -0.21%. Not a single segment experienced an increase in values for the week.
“Most segments saw a change in average value of more than $120 this week, as the truck segments fell at more than the car segments,” said CBB. “Conversion rates were slightly improved compared to last week, but some observed sell rates were still as low as 12% while the high end was up to 83%; the average being between 25-45%.”
In the car segments, sports cars experienced the least declines with -0.04%, followed closely by premium sports cars at -0.06%. The most significant decrease came from compact cars at -1.01%. And full-size cars were down by -0.77%, followed by luxury cars at -0.70%.
For trucks/SUVs, all segments reflected a decline. Those with the most significant decrease include compact vans (-1.97%), compact crossovers/SUVs (-0.79%), full-size vans (-0.71%), and full-size pickups (-0.63%). Other notables include mid-size luxury crossovers/SUVs (-0.58%) and sub-compact crossovers (-0.57%).
CBB said the average listing price for used vehicles was slightly down week-over-week, as the 14-day moving average slipped to $34,050. The analysis is based on approximately 220,000 used vehicles listed for sale on Canadian dealer lots.
The full report is available here.
