This time around, the Canadian used wholesale market experienced a decline in prices for the week of -0.26%, for the week ending on Aug. 3.
Canadian Black Book’s latest Market Insights report shows the overall market is down only -0.02% from the prior week and -0.01% from the 2017-2019 average of the same week. In the car category, segment prices dropped -0.35% this week compared to last week’s -0.21%. And trucks/SUVs saw segment prices decline -0.18%, versus the last CBB report indicating a decrease of -0.34%.
“The Canadian market continues to show a steady gradual decline,” said CBB in its update. “More than 35% of market segments saw an average value change greater than ±$100, showing an increase compared to the previous week. Among these segments, car segments saw a decrease 17% larger than that observed in the truck segments.”
In the car category the smallest increase was seen coming from full-size cars (-0.04%), while mid-size cars (-0.14%) and compact cars (-0.16%) experienced the smallest declines. The largest decreases came from sub-compact cars (-0.81%), prestige luxury cars (-0.54%), and premium sports cars (-0.40%).
In the truck/SUV segments, those with the largest depreciations were seen in compact luxury crossovers/SUVs (-0.42%) and compact crossovers/SUVs (-0.31%). Mid-size crossovers/SUVs, mid-size luxury crossovers/SUVs, and full-size vans all had the same decrease of -0.27%. On the up side, five segments experienced increases, though minivans (+0.45%) and sub-compact luxury crossovers (+0.17%) had the largest.
CBB said the average listing price for used vehicles is stable, with the 14-day moving average at $34,300. The analysis is based on around 220,000 used vehicles listed for sale on Canadian dealer lots.
dealer, C. auto, & Phillips, T. (2024, August 9). Used vehicle prices close to Prior Week, 2017-2019 average. Canadian Auto Dealer. https://canadianautodealer.ca/2024/08/used-vehicle-prices-close-to-prior-week-2017-2019-average/