Data from Canadian Black Book revealed used vehicle wholesale prices remained firm for the week ending on July 2, with an overall increase of 0.01% while the used retail market remains “red-hot.”
According to CBB’s market update, premium sports cars and prestige luxury cars (both up 0.30% ) experienced the largest price increase for the car segment. This was followed by the luxury car and near-luxury car segments—both with a 0.18% increase.
The cars segment was up 0.09% compared to the previous week’s increase of 0.04%. The downside is that mid-size cars declined 0.59%, followed by subcompact cars and compact cars, which were both down 0.42%.
The truck/SUV segments remained relatively flat this week, down only 0.06% compared to the prior week’s 0.06% increase. The minivan segment managed the largest increase (0.40%), while sub-compact luxury crossovers managed the largest decline (0.47%) in the wholesale channel for the July 2 week.
Small pickup trucks increased 0.35% and compact vans were up 0.26%. During the same period, sub-compact crossovers declined 0.29% and mid-size luxury crossover/SUVs dropped 0.24%.
“The average listing price continues to hit historic highs for used vehicles as the 14-day moving average now sits just under $27,000, up $200 from the highs hit last week,” said CBB. The analysis is based on approximately 140,000 vehicles listed for sale on Canadian dealer lots.
As for used active listing volume, it continues to decline as the 14-day moving average has now dropped to approximately 139,000. “The positive movement seen in early April now seems to be softening as all provinces begin to reopen,” said CBB.
You can view the full report here.