The decrease in wholesale values remained above the seasonal rate this past week, according to Canadian Black Book. Its latest Market Insights for the week ending on August 12 shows that Canadian used vehicle prices declined -0.34%, compared to the prior week’s -0.19%. The 2017-2019 average for the same period was -0.20%.
“Many segments saw a change in average value of more than $100 this week as the truck and SUV segments fell the most,” CBB said in its update. “Conversion rates were quite varied. Some observed sell rates were as low as 18% but most were in the 20-40% range.”
The car segment declined by -0.24%, versus -0.01% the prior week. And truck/SUV segment prices declined -0.43%, compared to -0.36% the week before. “One out of 22 segments’ values have increased for the week,” said CBB.
In the car category, eight of the nine segments showed a decrease in pricing, the largest being compact cars (-0.79%) and sub-compact cars (-0.68%). The segment with the smallest decrease was near luxury cars (-0.05%), while the only category to experience an increase in pricing was premium sports cars (+0.05%).
For trucks, all 13 segments had decreases — two of them showing a downturn greater than one percent: minivans (-1.46%) and compact vans (-1.28%). Other notable declines came from compact crossovers/SUVs (-0.55%), full-size vans (-0.53%), and mid-size luxury crossovers/SUVs (-0.51%).
As for the average listing price for used vehicles, as the 14-day moving average, it sat at roughly $38,000 for this period. The analysis is based on approximately 186,500 vehicles listed for sale on Canadian dealer lots, according to CBB.
