Overall prices for used vehicles in the Canadian wholesale market increased slightly for the week ending on March 29—up 0.09% compared to the -0.10% from the previous week, according to Canadian Black Book.
Its latest automotive market update indicates the overall car category was up 0.11% this week compared to -0.10% the prior week, while trucks/SUVs are up 0.07% this week versus -0.09% the previous week.
“The Canadian wholesale market has continued to remain stable overall but is lifted into the positive territory,” said CBB. “Newer vehicles tend to be outperforming vehicles aged three years and older. Supply remains low while demand continues to soften on both sides of the border.”
For the overall car segments, sub-compact cars had the largest price increase for the week (+0.98%), followed by mid-size cars (+0.51%) and compact cars (+0.46%). Luxury cars experienced the largest price declines for the week—down 0.21%, followed by full-size cars (-0.19%) and near luxury cars (-0.07%).
As for trucks/SUVs, for the sixth consecutive week full-size vans experienced the largest price increase (+1.51%), followed by sub-compact crossovers (+0.72%) and compact luxury crossovers/SUVs (+0.27%). On the flip side, compact vans saw the largest price declines for the week (-1.94%), followed by full-size crossovers/SUVs (-0.61%) and mid-size luxury crossovers/SUVs (-0.37%).
The average listing price for used vehicles, when considering the 14-day moving average, now sits slightly below $36,500. The analysis is based on approximately 120,000 vehicles listed for sale on Canadian dealer lots.
In other news, Canadian consumer prices increased 5.7% year-over-year in February—up from the 5.1% increase in January. Drivers paid 32.3% more at the pump in March compared to the previous month. And consumer confidence dropped to a 15-month low, thanks largely to rising inflation and uncertainty around the war in Ukraine.
