Canadian used market price decrease slowed during the holidays

Although news of new vehicle sales units are in for December 2023, it is also worth keeping an eye on the Canadian used wholesale market — which saw a decline in prices of -0.54% for the week ending on Dec. 30, compared to the prior week’s -0.43%.

Based on Canadian Black Book’s market insights report, the car segment decreased by -0.53% (it was -0.41% the week before), while truck/SUV segment prices were down -0.55% (versus -0.45% the prior week). None of the 22 segments’ values increased for the week.

“The Canadian market continued to decrease, and the overall decrease slowed during the holidays with declines closer to the historical average,” said CBB in its update. “Supply is building with decreasing demand for vehicles at auction on both sides of the border. Upstream channels continue to tap supply before it can be available to wholesale markets.”

In comparison, the United States used vehicle market saw its overall car and truck segments decrease -0.68% last week and -0.70% the week before that. The volume-weighted car segments were down -0.51%, and the volume-weighted truck segments decreased by -0.80%.

As for the Canadian market, the car category saw a decrease across all of its nine segments, with the most significant decline coming from compact cars (-1.20%). This was followed by sub-compact cars (-0.72%) and mid-size cars (-0.70%). Segments experiencing the least decreases were full-size cars (-0.11%) and sports cars (-0.14%).

For trucks/SUVs, the segments with the largest declines were minivans (-1.59%), full-size crossovers/SUVs (-1.36%), sub-compact luxury crossovers/SUVs (-1.16%), and sub-compact crossovers (-1.03%). Other segments with notable depreciations were full-size pickups (-0.64%), mid-size crossovers/SUVs (-0.62%), and full-size vans (-0.61%).

You can read the full report here.

Related Articles
Share via
Copy link