Still hovering close to previous week prices and the 2017-2019 average of the same period, the Canadian used wholesale market saw a decline in prices of -0.28% for the period ending on Aug. 17.
Car and truck/SUV segments prices showed a greater fluctuation from Canadian Black Book’s last report. The car segment fell by -0.44%, compared to -0.20% the prior week. And truck/SUV segment prices slipped -0.14%, versus the -0.26% experienced in the previous CBB report.
“The Canadian market continues to show a steady gradual decline similar to the previous week,” said CBB in its update. “More than 36% of market segments saw an average value change greater than ±$100, showing an increase compared to the prior week. Among these, car segments saw a decrease 30% larger than that observed in the truck segments.”
In the car category, premium sports cars decreased the least (-0.10%), with sports cars (-0.16%) and near luxury cars (-0.28%) experiencing the next smallest declines. The largest decreases came from luxury cars (-0.92%), prestige luxury cars (-0.89%), and compact cars (-0.73%).
For trucks/SUVs, the largest decline was seen in the minivan (-0.54%) segment, followed by mid-size luxury crossovers/SUVs and full-size vans (-0.33%). Both had the same amount of depreciation. The two segments that reflected were full-size pickups (+0.51%) and full-size luxury crossovers/SUVs (+0.01%).
CBB said the average listing price for used vehicles is stable, with the 14-day moving average at $34,400. The analysis is based on around 220,000 used vehicles listed for sale on Canadian dealer lots.
Dealer, C. auto, & Lefko, P. (2024, August 21). Used vehicle price declines relatively similar at market level. Canadian Auto Dealer. https://canadianautodealer.ca/2024/08/used-vehicle-price-declines-relatively-similar-at-market-level/