The Canadian used wholesale market experienced a more pronounced decline in prices this week — down 0.23% for the period ending on June 3 compared to the previous week’s -0.12%, according to Canadian Black Book.
Overall car segment prices dipped 0.01% this week, while trucks/SUVs were down 0.44%. In the United States, the car and truck segments decreased 0.31% last week, with the volume-weighted car segments down 0.26% and trucks down 0.34%.
“The Canadian market continued to decrease, and the overall decrease was similar to the historical average,” said CBB in its Market Insights update. “Many segments saw a change in average value of less than $100 this week as the market continues to stabilize.”
For the overall car segment, five out of nine categories experienced an increase in prices. The largest increase came from full-size cars (+1.33%), followed by mid-size cars (+0.11%) and luxury cars (+0.05%). Other categories saw prices decrease, including prestige luxury cars (-0.37%), compact cars (-0.13%), and sub-compact cars (-0.04%).
As for trucks, 12 of the 13 categories experienced a decrease in prices. This includes full-size pickups (-1.12%), full-size vans (-0.90%), and full-size crossovers/SUVs (-0.62%). Only one segment saw an increase in prices and that was compact vans (+1.54%).
The average listing price for used vehicles, when considering the 14-day moving average, was approximately $36,300. The analysis is based on approximately 165,000 vehicles listed for sale on Canadian dealer lots, according to CBB.
In other news, CBB said the Bank of Canada will reveal its decision on the target for the overnight rate on June 7. And the Canadian dollar hovered around $0.744 the morning of June 5 — up from $0.735 the previous week.
