This week’s decline in prices for the Canadian used wholesale market was 0.31% for the period ending on July 5, according to Canadian Black Books’ latest Market Insights report. The previous period saw prices fall 0.23%, while the 2017-2019 industry average for the current period is -0.27%.
The overall car segment was down 0.18% and truck/SUVs saw segment prices decline 0.43%. In comparison, car and truck segments in the United States dropped 0.42% last week — the same as the previous period. Volume-weighted car segments were down 0.42%, and volume-weighted truck segments decreased by 0.45%.
On the Canadian front, two of the nine car segments managed an increase in pricing: full-size cars (+0.12%) and sports cars (+0.05%). Prestige luxury cars (-0.57%), compact cars (-0.27%), and near-luxury cars (-0.20%) all had the largest decrease in pricing.
For trucks/SUVs, 10 of the 13 segments had decreases — including full-size luxury crossovers/SUVs (-0.71%), mid-size luxury crossovers/SUVs (-0.60%), and mid-size crossovers/SUVs (-0.56%). Compact vans (+0.50%), small pickups (+0.17%), and sub-compact crossovers (+0.02%) all experienced increases.
The average listing price for used vehicles, when considering the 14-day moving average, sat at approximately $36,600. The analysis is based on approximately 184,000 vehicles listed for sale on Canadian dealer lots, according to CBB’s report.
In other news, Volvo and Electrify Canada/America are inking deals with Tesla to make use of its Supercharger network by 2025. “Volvo will provide Tesla’s North American Charging Standard connectors to its vehicles for Supercharger charging and Electrify Canada/America will offer those same connectors to its own network of chargers,” said CBB.
And Hyundai Motor wants to build a second electric vehicle manufacturing facility; Canada is among the contenders.
You can view the full report here.
