Used vehicle wholesale prices remained relatively flat since the beginning of the year and for the week ending on February 15, according to Canadian Black Book’s latest update.
“The Canadian wholesale market has continued to remain stable overall,” said CBB, adding that “Newer vehicles tend to be outperforming vehicles aged three years and older.”
For this past week, prices for the car segments increased 0.16%, while the truck/SUV segments were down 0.07% from the previous week’s comparison. In the United States, the car segments decreased 0.84% and the truck segments were down 0.58%.
For Canada’s car segments, sub-compact cars experienced the largest price increase for the week (+0.55%), followed by sports cars (+0.45%) and near-luxury cars (+0.34%). On the other end, prestige luxury cars experienced a price decline of -0.30% for the week.
For trucks/SUVs, sub-compact luxury crossovers saw the largest price increase (+0.92%), followed by full-size vans (+0.88%) and compact vasn (+0.87%). Full-size crossovers/SUVs experienced the largest price declines for the second consecutive week (-0.47%), followed by mid-size luxury crossovers/SUVs (-0.46%) and mid-size crossovers/SUVs (-0.40%).
As for the average listing price for used vehicles, the 14-day moving average now sits around $34,250. The analysis is based on approximately 120,000 vehicles listed for sale on Canadian dealer lots, according to CBB.
In other news, Ambassador Bridge reopened this week with auto industry losses estimated at $850 million. The bridge connects downtown Detroit with Windsor, Ont., and “is responsible for 30% of $600 billlion in annual two-way trade between the U.S. and Canada,” said CBB.
