Prices declined in the Canadian used wholesale market by 0.20% for the week ending on March 21, according to Canadian Black Book’s latest Automotive Market Update.
Car segments were down 0.15% this week (compared to -0.21% the previous week), while the truck and SUV segments were down 0.25% (versus -0.22% last week). A look at data for the overall market shows a decline of 0.20% this week, compared to -0.22% the previous week.
“The Canadian market continued to decrease unlike the increases seen across the border over the past week. The overall decrease was similar [to the] historical average,” said CBB in its report. “Supply remains low with high demand for more recent and clean condition vehicles on both sides of the border.”
For car segments, all except two categories experienced decreases. Those that saw a decline included luxury cars (-0.48%), near luxury cars (-0.30%) and sub-compact cars (-0.28%). The two categories that managed increases were mid-size cars (+0.70%) and sports cars (+0.02%).
As for the truck and SUV segments, again, all except two experienced decreases. The greatest declines came from compact vans (-0.70%) and full-size vans (-0.45%). Other categories include full-size crossovers/SUVs, mid-size luxury crossovers/SUVs, and full-size pickups — all of which experienced the same decrease (-0.38%).
The two categories that managed increases were compact luxury crossovers/SUVs (+0.07%) and sub-compact crossovers (+0.01%).
The average listing price for used vehicles, week-over-week, was consistent, as the 14-day moving average was approximately $36,000. According to CBB, the analysis is based on “approximately 180,000 vehicles listed for sale on Canadian dealer lots.”
In other news, an IPSOS poll shows consumer confidence in Canada dropped to 47.28 points in March from 47.49 points in February. And the Canadian dollar hovered around $0.728 on Monday morning — nearly matching the $0.725 rate from the previous week.
