Canadian wholesale market stable as tariffs loom
Image courtesy of Canadian Black Book.
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Stability reigns in the Canadian wholesale used-vehicle market.
A least for now.
While the threat of tariffs and a trade war with the U.S. loom on the horizon, the week ending Feb. 22 looked a lot like the previous few: a mild downward drift of 0.22% overall and solid auction sales rates, according to Canadian Black Book’s weekly Market Insights.
The pace of the decline did pick up a bit after losses of less than 0.20% in six of the past seven weeks, with truck/SUV segment values down 0.21% and cars dropping 0.23%.
Compact vans took the largest percentage fall at 0.95% ($184), followed in the truck/SUV category by mid-size crossover/SUVs (0.60%, $225), small pickups (0.49%, $135) and sub-compact luxury crossovers (0.45%, $96).
Among cars, full-size cars were down 0.66% ($133), sub-compact cars dropped 0.55% ($54) and compact cars fell 0.42% ($58). Prestige luxury cars ($232, 0.40%) and premium sporty cars ($159, 0.20%) took the biggest dollar losses.
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Only two segments gained value for the week: mid-size crossover/SUVs (up 0.29%, $69) and compact crossover/SUVs (0.11%, $19).
Monitored auction sale rates were steady, averaging 49.3% with a range from 39.5% to 70.1%, and retail prices continued to sink, with the 14-day moving average retail listing price for used vehicles down to $34,000.
The U.S. market remained on course, showing the expected seasonal behavior. Late-model vehicles aged 0-to-2 years neared positive territory after a minimal decline of 0.08% for the week, and high-volume segments like compact cars (up 0.02%) and compact crossovers (up 0.002%) recorded small gains. The overall market was down 0.19%.
