Canadian used vehicle wholesale prices saw a decline of -0.74% for the week ending on Dec. 16, which was less than last week’s -0.96%.
Based on Canadian Black Book’s Market Insights, the car segment was down -0.51% compared to the prior week’s -0.46%. And truck/SUV segment prices slipped -0.97% compared to -1.46% from the previous reporting period. None of the segments’ values increased this past week.
“Supply is building, with decreasing demand for vehicles at auction on both sides of the border,” said CBB, adding that “Upstream channels continue to tap supply before it can be available to wholesale markets.”
In the United States, the overall car and truck segments were down -1.05% and -1.49% the prior week. The volume-weighted car segments decreased -1.03% (compared to the previous reporting period of-1.72%). And the volume-weighted truck segments fell -1.06% (the prior week it was -1.40%).
In Canada, all nine segments of the car category experienced a decrease, with compact cars managing the most significant drop in pricing (-0.83%), followed closely by full-size cars (-0.81%) and near-luxury cars (-0.75%). Some segments experienced a less intense decrease, however. These include prestige luxury cars (-0.23%) and premium sports cars (-0.37%).
As for trucks/SUVs, all experienced a depreciation. Those with the largest were compact crossovers/SUVs (-1.59%), sub-compact luxury crossovers (-1.40%), and full-size pickups (-1.38%). Sub-compact crossovers and mid-size crossovers/SUVs had the same decline (-1.24%).
The average listing price for used vehicles, as per the 14-day moving average, was approximately $37,750. The analysis is based on around 210,000 vehicles listed for sale on Canadian dealer lots, according to CBB.
You can read the full report here.
