Dipping a little lower this week, the Canadian used wholesale market saw prices reach -0.12% for the period ending on May 27 — down 0.06% more than the previous market insights provided by Canadian Black Book.
Overall car segment prices fell by 0.06% (similar to the previous period), while trucks/SUVs fell 0.17%. In comparison, the overall car and truck segments in the United States declined -0.25% last week and -0.13% the prior week.
In terms of Canadian used car prices, five out of the nine segments experienced an increase. The biggest jump in pricing came from mid-size cars at (+0.27%), followed by sports cars (+0.20%) and full-size cars (+0.13%).
On the downside, the segments that experienced the largest decline in pricing came from prestige luxury cars (-0.72%), near-luxury cars (-0.02%), and both compact cars and luxury cars (-0.01%).
As for trucks/SUVs, the segments that experienced a decline in pricing included sub-compact luxury crossovers (-0.47%), full-size luxury crossovers/SUVs (-0.44%) and sub-compact crossovers (-0.33%). In fact, only one segment saw an increase: full–size pickups (+0.25%).
The average listing price for used vehicles, when considering the 14-day moving average, was approximately $35,850. CBB’s analysis is based on around 175,000 vehicles listed for sale on Canadian dealer lots.
In other news, the federal government budget deficit grew to $44.4 billion in March 2023, up from $25.7 billion — “in the corresponding month of the previous year,” said CBB.
And the Canadian dollar hovered around $0.735 the morning of May 29, which is down from last week’s $0.741.
