A week after Canadian auctions posted their lowest conversion rate of the year, sales improved — but not by much.

Canadian Black Book’s weekly Market Insights report for the week ending Oct. 25 showed an average monitored auction sale rate of just 29%, with the range varying widely from as low as 10% to as high as 72.8%.

Still, that average was higher than the previous week’s rate of 22.1%, which surpassed the 23.5% of the week ending July 26 as 2025’s lowest.

The average auction conversion rate has now dipped below 30% for three consecutive weeks.

CBB analysts said wholesale supply has stabilized at typical levels, but upstream channels continue to hold priority sale access to inventory, with buyer demand for high-quality vehicles remaining high at auctions in Canada and the U.S.

Meanwhile, wholesale values dropped by 0.26%, with no vehicle segments gaining value for the week and eight of the 22 segments down by more than $100.

Car segments fell 0.21%, paced by full-size cars (down $194, 0.91%), prestige luxury cars ($155, 0.24%), luxury cars ($110, 0.27%) and premium sporty cars ($107, 0.13%). Full-size crossover/SUVs took the biggest percentage dive among truck/SUV segments, down, 0.69% ($283), while full-size luxury crossover/SUVs ($297, 0.44%) had the largest dollar loss. Overall, truck/SUB segments sank 0.30%.

The 14-day moving average retail price dropped slightly to $37,360, down from $37,420.

In the U.S, wholesale prices declined 0.59% as the fall market’s sharper seasonal depreciation. Conversion rates varied, with strong results for clean, late-model units but lower returns on aging and higher-mileage inventory.