This week dealers will find the Canadian used wholesale market experienced a decline of -0.31% in pricing for the period ending on November 2. Canadian Black Book’s latest update shows the market slipped further from the prior week’s -0.13% to near the 2017-2019 average of -0.29% for the same period.
Car segment prices were down -0.46% compared to last week’s -0.09%, while truck/SUV segments dropped -0.17% — similar to the prior week. The largest decline in the car segments came from near luxury cars, and compact luxury crossovers/SUVs for the truck/SUV category.
“The Canadian market continues a downward trend, with a decline slightly more pronounced than in its previous week,” said CBB in its Market Insights report. “Just over 45% of market segments experienced an average value change of more than ±$100, a significant increase from last week. Among these, the decline in car segments was 36% more than last week.”
In the car categories compact cars (-0.20%) decreased the least, followed by sub-compact cars (-0.21%) and mid-size cars (-0.23%). The largest decreases came from near luxury cars (-0.63%), prestige luxury cars (-0.56%), and sports cars (-0.53%).
For trucks/SUVs, 12 of the 13 segments reflected the decline seen in the overall category. For example, the largest declines were seen coming from compact luxury crossovers/SUVs (-0.65%), along with both mid-size luxury crossovers/SUVs and minivans — sharing the same decrease of -0.58%. However, one segment did experience an increase and that was full-size pickups (+1.18%).
CBB said the average listing price for used vehicles is up slightly, as the 14-day moving average was at $34,250. They said the analysis is based on approximately 220,000 used vehicles listed for sale on Canadian dealer lots.
dealer, C. auto, Cote, M.-E., dealer, C. auto, & Phillips, T. (2024, November 7). Used wholesale market sees slightly more pronounced decline in pricing. Canadian Auto Dealer. https://canadianautodealer.ca/2024/11/used-wholesale-market-sees-slightly-more-pronounced-decline-in-pricing/