Dealers may be interested to know that used vehicle prices, which continue to decline in the Canadian wholesale market, are now down 0.06% for the week ending on May 20.
Canadian Black Book’s latest Market Insights report reveals that the overall market is down an extra 0.02% this week, with the car and truck/SUV segments both down 0.06%, respectively. (In the United States, the overall car and truck/SUV segments decreased 0.13% during the same period.)
“Many segments saw a change in average value of less than $65 this week as the market continues to stabilize,” said CBB in its update.
Five of the nine segments in the car category experienced an increase in prices, including luxury cars (+0.15%), followed by both sports cars and compact cars (+0.11%). A few segments also saw declines — with the largest price decreases coming from full-size cars (-1.01%), followed by prestige luxury cars (-0.54%), and sub-compact cars (-0.10%).
For trucks/SUVs, the largest declines were minivans (-0.44%), mid-size luxury crossover/SUVs (-0.33%), and full-size pickups (-0.32%). On the up side, compact vans saw a 2.42% increase in prices, along with two other categories: full-size vans (+0.51%) and compact luxury crossover/SUVs (+0.05%).
The average listing price for used vehicles, based on the 14-day moving average, was around $35,800. That CBB analysis is based on approximately 175,000 vehicles listed for sale on Canadian dealer lots.
In other news, the Canadian dollar sat at around $0.741 on Monday morning, which CBB said was relatively stable from $0.741 a week prior.
