Auction Prices Rise Across The Board In February
Wholesale prices were on the way up in February, with analysts reporting price spikes across the board for all segments, even as the Canadian economy was feeling the impact of depreciation on the Canadian dollar.
The Manheim Canada February used-vehicle price index was up 8.8 points from January and remains up 7.7 points year-over-year.
And after being updated through February and adjusted for seasonality, the ADESA Canada Used Vehicle Price Index, powered by ALG, rose by 0.3 percent from January rate.
According to the Manheim index, the largest price spikes were seen in the full-size car segment, which was up 35.9 points, and the sports car segment, which saw a 26-point increase.
Taking a look at price movement according to the ADESA Index, Geoff Helby, Canada regional director of partner development at ALG, reported price movements were all positive in February.
Compact SUVs rose at the fasted rate, Helby said, with a 3.7 percent or $471 increase. They were followed by the midsize cars with a 2.8 percent or $260 price spike.
Full-size pickups also saw rates hike, with prices in the lanes spiking 2.7 percent or $559, perhaps not surprising considering the winter weather February brought with it.
Midsize SUV prices rose by 1.6 percent or $274, followed by the minivans, which saw prices rise by 1.5 percent or $150. Lastly, mid compact cars saw prices rise by 1.2 percent or $108, according to the ADESA index.