Canada’s used wholesale market saw prices decline -0.42% for the week ending on Feb. 3 which, like last week, is not overly far (in comparison to some of 2023’s price declines) from the prior week’s -0.63%. And the 2017-2019 average of the same week was -0.28%, according to Canadian Black Book.
“The Canadian market continued to decrease, with declines closer to the historical average than the last few weeks,” said CBB in its Market Insights update. “Supply is building with decreasing demand for vehicles at auction on both sides of the border.”
The car segment fell by -0.52% compared to the prior week’s -0.76%. And truck/SUV segment prices were down -0.32% compared to the previous period’s -0.46%. Two out of 22 segments’ values were up for the week: sub-compact luxury crossovers (+0.21%) and compact vans (+0.10%).
In the United States, the overall car and truck segments declined -0.33% last week — same as the prior week’s decrease. The volume-weighted car segments fell -0.22%, compared to the previous -0.26% decline. And trucks were down -0.38%; versus the prior week’s -0.36%.
In Canada, the segments in the car category that experienced the least decreases were premium sports cars (-0.09%) and luxury cars (-0.12%). The most significant decline came from sub-compact cars (-1.25%) and compact cars (-1.07%).
For trucks/SUVs, full-size crossovers/SUVs (-0.50%), compact crossovers/SUVs (-0.47%) and full-size pickups (-0.46%) managed the largest declines. However, two segments had increases: sub-compact luxury crossovers (+0.21%) and compact vans (+0.10%).
The average listing price for used vehicles, as the 14-day moving average, was approximately $37,000. The analysis is based on around 220,000 used vehicles listed for sale on Canadian dealer lots, according to CBB.
The full report is available here.
