The Canadian used wholesale market saw a decline of -0.26% in pricing for the week ending on October 19, according to Canadian Black Book’s latest market update. Last time that decline was -0.31%, while the 2017-2019 average for that same period was -0.37%.
Car segment prices were down -0.27% (similar to the prior week), while the truck/SUV segments slipped -0.25% (versus the -0.34% from a week earlier). The largest decline in the car segment came from sports cars, whereas the largest decrease from truck/SUV segments came from full-size crossovers/SUVs.
The Canadian used wholesale market saw a decline of -0.26% in pricing for the week ending on October 19, according to Canadian Black Book’s latest market update. Last time that decline was -0.31%, while the 2017-2019 average for that same period was -0.37%.
Car segment prices were down -0.27% (similar to the prior week), while the truck/SUV segments slipped -0.25% (versus the -0.34% from a week earlier). The largest decline in the car segment came from sports cars, whereas the largest decrease from truck/SUV segments came from full-size crossovers/SUVs.
“The Canadian market continues on a downward trend, with a decline slightly less pronounced than in its previous week,” said CBB in its update. “Just over 27% of market segments experienced an average value change of more than ±$100, almost mirroring the previous week’s activity. Among these, the decline in truck segments was 9% less than last week.”
In the car category, sub-compact cars (+0.03%), mid-size cars (-0.06%), and full-size cars (-0.07%) experienced the smallest decrease. On the other end, the largest decreases came from sports cars (-0.47%), prestige luxury cars (-0.36%), and luxury cars (-0.25%).
For trucks/SUVs, the largest declines were seen in the full-size crossover/SUV segment (-0.57%), compact crossovers/SUVs (-0.39%), and full-size luxury crossovers/SUVs (-0.37%). Full-size pickups (+0.21%) and minivans (+0.10%) showed increases.
As for used retail pricing and listing volume, CBB said the average listing price for used vehicles increased slightly, with the 14-day moving average sitting at $34,400. The analysis is based on around 220,000 used vehicles listed for sale on Canadian dealer lots.
Phillips, T., dealer, C. auto, dealer, C. auto, & Lefko, P. (2024, October 25). Canadian used vehicle market continues downward trend. Canadian Auto Dealer. https://canadianautodealer.ca/2024/10/canadian-used-vehicle-market-continues-downward-trend/