CBB report shows Canadian wholesale market warming as March begins
Image courtesy of Canadian Black Book.
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It might still be awhile before spring arrives, but the Canadian wholesale used-vehicle market showed signs of warming as the calendar turned to March.
In what Canadian Black Book’s weekly Market Insights report for the week ending March 7 called “a noticeable shift from the previous week,” wholesale prices showed an overall decline of 0.30%, the smallest since late January, with eight vehicle segments in positive territory.
Seven of the gainers were in the truck/SUV category as that group averaged a mere .03% loss.
Three of those — full-size pickups ($119, 0.36%), full-size luxury crossover/SUVs ($114, 0.18%) and midsize crossover/SUV ($111, 0.47%) — were up more than $100, and minivans ($99, 0.44%) just missed joining that club.
On the down side, the biggest fall came from compact vans, which dropped $235 in value (1.7%). Compact luxury crossover/SUVs ($232, 0.83%) and subcompact luxury crossover/SUVs ($202, 0.97%) also lost more than $200 in value.
Car segments didn’t hold up as well, falling 0.60% with only compact cars ($17, 0.12%) posting a gain and the number dragged down by three of the priciest segments: prestige luxury cars (down $561, 0.94%), premium sporty cars ($528, 0.65%) and luxury cars ($322, 0.85%).
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Auction sale rates climbed slightly to an average of 48.8%, and supply remained at normal levels while retail prices held steady at a 14-day moving average of $37,100.
South of the border, strong auction activity continued in the U.S. market, with conversion rates pushing up to 68% and solid buyer participation illustrating steady wholesale demand, CBB analysts reported. Overall values increased by 0.24%, with trucks and key SUV segments continuing to outperform the rest of the market as buyers remained disciplined and focused on well-conditioned, desirable inventory.
