The Canadian used wholesale market experienced a price decrease of 0.36% for the week ending on June 17 — a notable amount when compared to the prior week’s -0.10% and even the 2017-2019 average of -0.19%.
Canadian Black Book said the overall decrease was larger than the historical average. “Many segments saw a change in average value of more than $100 this week as the market sees the largest drop since February,” said CBB in its Market Insights report.
In the United States, the overall car and truck segments declined 0.38% last week and -0.37% the prior week. Volume-weighted car segments were down 0.41%, versus -0.45% the week before. In Canada, car segment prices fell 0.32% this week (versus -0.05% the prior week) and trucks/SUVs were down 0.40% (compared to -0.15% a week earlier).
In the car segment, two of the nine categories managed an increase in pricing — the largest coming from sub-compact cars (+0.22%), followed by sports cars (+0.06%). The largest decline in pricing came from prestige luxury cars (-1.41%), full-size cars (-0.42%), and compact cars (-0.35%). CBB said the segment that experienced the lowest decline was luxury cars (-0.03%).
For trucks/SUVs, 11 out of 13 categories showed a decrease, with sub-compact crossovers and mid-size luxury crossovers/SUVs experiencing the same depreciation (-0.97%). And mid-size crossovers/SUVs (-0.59%) and sub-compact luxury crossovers (-0.56%) had the next largest declines. Compact vans (+1.50) was the only category to experience an increase in prices.
The average listing price for used vehicles, as per the 14-day moving average, was at about $36,475. The analysis is based on approximately 185,000 vehicles listed for sale on Canadian dealer lots, according to CBB.
