Wholesale values in Canada rose slightly during June as used supply continues to be tight.

According to the latest RVI Market Update, used-car prices were up 2.6 percent when compared to May.

And prices in June were up a significant 7.3 percent from the same period last year.

Leading the price gains were the smaller sedan segments.

“Compacts and small sedans led the market in gains from May. Small SUVs showed some of the greatest losses in the market on a month-over-month basis,” RVI officials shared.

This trend may be related in part to rising fuel rates; gas prices saw a slight increase to rest at $1.31 per liter in June.

Specifically, the small sedan segment saw prices increase by 6.9 percent from May and 2.7 percent year-over-year. The compacts experienced an ever larger increase from May, jumping by 7.6 percent this past month.

On the other hand, prices fell by 4.5 percent from May for the small SUV segment.

Offering some commentary on what  the industry can expect in the lanes for the rest of 2013, RVI said that although used-vehicle supply continues to slowly improve, the long-term outlook may bring a reprieve in the lanes to dealers and buyers.

Though prices may rise, dealers can rest assured the growth is expected to be small.

“We expect auction volume to increase only slightly in the summer months, increasing by less than 1 percent,” said Wayne Westring, manager of RVI Analytical Services, in early June.

“We’re expecting used car prices to hold steady for the summer months. Exchange rates shouldn’t see much movement over this time. Gas prices may see a slight bump up with the summer months upon us, but there shouldn’t be a major impact on used car prices through September,” he continued.