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Used cars relatively flat this week, market up only 0.05%

The Canadian used vehicle wholesale market remained relatively flat for the week ending on June 25, with the overall market increasing by only 0.05%, according to Canadian Black Book.

In comparison, the week preceding June 25 saw an overall increase of 0.08%. “The Canadian wholesale market has levelled off with only a slight modest increase this week,” said CBB.

The overall car segment is now up 0.04%, compared to +0.26% the previous week. Premium sports cars jumped 0.42%, followed by the luxury car segment at +0.37%—the only two car segments to record a positive price development for the week.

Seven in nine car segments revealed slight price decreases, with full-size cars down 0.61%, followed by sub-compact cars and compact cars, down 0.45% and 0.34%, respectively.

As for trucks/SUV, the overall segment’s weekly values increased 0.06%, rebounding from the prior week’s modest decline of 0.10%. CBB said commercial use vehicles experienced price increases, with full-size vans up 0.63% and compact vans up 0.29%. Small pickups also increased by 0.35%, and full-size pickups jumped 0.17%.

On the downside, personal use vehicles declined—with sub-compact luxury crossovers down a significant 0.41%, followed by sub-compact crossovers with a 0.21% decline.

CBB said the average listing price for a used vehicle is up, as the 14-day moving average now sits around approximately $26,800, and the 28-day moving average at around $26,700. The analysis is based on approximately 140,000 vehicles listed for sale on Canadian dealership lots.

“The 14-day moving average for active listing volume fell slightly to approximately 139,500. Active listing volume began showing positive movement in early April and we are now seeing listing volume stabilize around 140,000 units,” said CBB, adding that “listing volume continues to fall in comparison to the previous week, with the CBB Listing Volume Index at 1.088.”

The index shows that the overall listing volume is at higher levels than during the same period in 2020.

The full report is available here.

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