The Canadian used wholesale market saw a decline in prices for the week ending on July 29, at -0.27%, which is similar to the previous week’s -0.28% decline. In the United States, the overall car and truck segments decreased -0.37% last week, compared to the prior week’s -0.53%.
Canadian Black Book’s latest Market Insights report shows that the car segment in Canada fell by -0.05% (versus the prior week’s -0.11%), and truck/SUV segment prices were down -0.48% (not overly far from the previous week’s -0.44% decline).
“Many segments saw a change in average value of less than $100 this week as the truck and SUV segments fell the most,” said CBB. “Conversion rates were quite varied. Some observed sell rates were as low as 23% and as high as 66%, but most were in the 20-40% range.”
Three out of nine car segments were down in pricing, with full-size cars (-0.68%) showing the largest decrease, followed by premium sports cars (-0.25%) and luxury cars (-0.04%). The largest increase in pricing came from mid-size cars (+0.20%) and sports cars (+0.08%).
For trucks/SUVs, similar to the prior week all thirteen segments experienced decreases. The compact van segment was down -1.25%, followed by mid-size luxury crossovers/SUVs (-0.73%) and full-size luxury crossovers/SUVs (-0.64%). Other segments worth noting include compact luxury crossovers/SUVs (-0.60%) and full-size pickups (-0.51%).
The average listing price for used vehicles, when considering the 14-day moving average, was approximately $37,000. The analysis is based on around 184,000 vehicles listed for sale on Canadian dealer lots, according to CBB.
You can read the full report here.
