Photo courtesy of Canadian Black Book Weekly Automotive Market Update 02/01/2022.
Prices remained relatively flat for Canada’s used wholesale market this past week (+0.01%), although the average listing price for used vehicles continued to hit historic highs. According to Canadian Black Book (CBB), the 14-day moving average sits at approximately $33,500 (based on approximately 120,000 vehicles listed for sale on Canadian dealer lots).
Photo courtesy of Canadian Black Book Weekly Automotive Market Update 02/01/2022.
As January drew to a close, the Compact Car segment (+0.87%) and Sporty Car segment (+0.51%) saw the largest price increases compared to the week prior. The Car segment saw a slight increase in price (+0.10%), while Truck/SUV segments dropped -0.08%.
The Near-Luxury Car segment also saw a drop this week, the largest within the Car segment at -0.34%, followed closely by a drop in the Full-Size Car (-0.23%) and Mid-Size Car (-0.16%) segments.
Photo courtesy of Canadian Black Book Weekly Automotive Market Update 02/01/2022.
Within the Truck segment, Compact Vans saw a price increase of +0.39% compared to last week, as did Minivan (+0.38%), Full-Size Van and Mid-Size Luxury Crossovers (+0.30%). In terms of price declines within the segment, the price of Full-Size Pickups dropped -0.57%, which is the eighth consecutive week of wholesale price declines in this segment. Still, the decline was not as significant as that felt within the Sub-Compact Luxury Crossover segment which saw a decline of -1.24% compared to last week.
Photo courtesy of Canadian Black Book Weekly Automotive Market Update 02/01/2022.
Steadiness is the name of the game for Canada’s wholesale market, which continues to remain stable. CBB’s Weekly Automotive Market Update reports that “Newer vehicles tend to be outperforming vehicles aged three years and older [and] supply remains low while demand continues to weaken on both sides of the border.” Market demand cooled slightly, with conversion rates at approximately 55%, although good condition units with low kilometers are still seeing high levels of bidding activity.
South of the border, in the United States, Car and Truck segments decreased for the sixth consecutive week, down -0.34% compared to the week prior. In fact, eight of the nine Car segments declined last week in the U.S., with Mid-Size Cars having the largest decline at -0.64%.
