18 straight weeks of climbing wholesale vehicle prices in Canada
Though the overall increase slowed, wholesale vehicle prices in Canada have now climbed for 18 consecutive weeks, according to Canadian Black Book.
In the CBB Automotive Market Update released Tuesday the company said overall wholesale values were up 0.45% last week, compared to a 0.74% uptick the week before. The average for the same week during the 2017-2019 time frame was a decrease of 0.30%.
There was a 0.38% hike in car segment values, up from a 0.34% increase the week before. The 2017-2019 average was a dip of 0.35%. Cars have increased in value for 16 consecutive weeks, according to CBB.
The increase in truck/SUV prices slowed from 1.13% to 0.52% last week, and the 2017-2019 average was a decrease of 0.26%. SUV/truck prices have climbed for 18 consecutive weeks.
Values were up in 19 of the 22 segments that CBB tracks, including the compact van, which climbed the highest (3.17%). Next up was the full-size van (up 2.98%), with the subcompact crossover in third (up 1.27%), according to CBB.
Among the car segments, the largest increase was for the subcompact car, whose values were up 1.25%.
Low inventory remains the catalyst for the uptick in values, CBB said.
“Supply remains low while demand continues to be strong on both sides of the border,” the company said in the report. “Upstream channels continue to tap supply before it can be available at physical auctions.”