Prices were down 0.28% in the Canadian used wholesale market for the period ending on July 22, which is less than the previous period and closer to the 2017-2019 average of the same week (-0.21%).
According to Canadian Black Book’s latest Market Insights report, the car segment fell 0.11% and truck/SUV segment prices dropped 0.44%. CBB said two out of 22 segments’ values were up for the week.
In the United States, the car and truck segments were down 0.53% last week compared to -0.73% the week before. Volume-weighted car segments were down 0.59%, versus the prior week’s -0.77% decrease.
“Many segments saw a change in average value of more than $100 this week as the truck and SUV segments fell the most,” CBB said in its report. “Conversion rates were quite varied. Some observed sell rates were as low as 16% and as high as 73%, but most were in the 25-45% range.”
Seven out of nine car segments revealed a decrease in pricing during this period. Prestige luxury cars (-0.41%) experienced the most significant decrease, followed by sub compact cars (-0.24%). Both compact cars and premium sports cars tied (-0.17%), while sports cars (+0.21%) and mid-size cars (+0.09%) saw an increase.
For trucks/SUVs, all segments experienced decreases. Compact luxury crossovers/SUVs had the largest decline (-0.73%), followed by mid-size luxury crossovers/SUVs (-0.63%) and compact vans (-0.60%). CBB also noted three segments that had the same depreciation (-0.48%): mid-size crossovers/SUVs, compact crossovers/SUVs, and full-size pickups.
The average listing price for used vehicles, as per the 14-day moving average, sat at around $36,900. The analysis is based on approximately 184,000 vehicles listed for sale on Canadian dealer lots, according to CBB.
Read the full report here.
