The price decline experienced by the Canadian used wholesale market for the week ending on June 24 was -0.23%, which is slightly less than the prior week’s -0.36% but higher than the 2017-2019 average of -0.19%.
“The Canadian market continued to decrease, and the overall decrease was similar to the historical average,” said Canadian Black Book in its Market Insights report. In comparison to the Canadian figures, the overall car and truck segments in the United States decreased -0.42% last week versus the prior week’s -0.38%.
The report also shows that, in breaking down the two categories in Canada, cars were down -0.20% and the truck/SUVs’ segment prices declined -0.26%. CBB said three out of the 22 segment values were up for the week.
Specific to cars, two of the nine car segments demonstrated an increase in pricing: luxury cars (+0.07%) and sports cars (+0.06%). On the down side, full-size cars (-0.55%) had one of the steepest decreases, followed by compact cars (-0.48%). Mid-size cars (-0.01%) and premium sports cars (-0.18%) were also down, but they experienced the least decline.
On trucks/SUVs, all except one of the 13 truck categories had a decrease. Compact vans had the most significant decline (-1.96%), followed by mid-size luxury crossovers/SUVs (-0.42%) and full-size crossovers/SUVs (-0.37%). The minivan category was the only one to experience an increase — of 0.28%.
“Many segments saw a change in average value of more than $100 this week as the market (saw) the largest drop since February,” said CBB. “Conversion rates were quite varied. Some observed sell rates were as low as 26% but most were in the 35-50% range. Last week we saw less sellers dropping floors, which has been contributing to lanes with lower sell rates.”
The average listing price for used vehicles, as per the 14-day moving average, was approximately $36,600. This analysis is based on approximately 184,000 vehicles listed for sale on Canadian dealer lots, according to CBB.
You can read the full report here.
