Wholesale vehicle price declines in Canada eased a bit last week, dropping by an average of 0.39%, following a 0.55% decline the prior week, according to the latest analysis from Canadian Black Book.

The CBB report shows car prices dropping by 0.55%, while the truck/SUV segment prices decreased by 0.24%.

The trend since the year began has followed cars depreciating at higher rates than larger models.

Only two out of the 22 segments CBB tracks saw prices rise last week. Minivans rose by 0.50%, followed by small pickups, which climbed 0.1%. The small pickup segment is often unusually strong, bucking average trends.

The biggest drops of the 22 overall segments were in the full-size pickup segment, where prices fell 1.03%, followed by near-luxury cars, which were down 0.88%.

The near-luxury cars had the largest price decline among car segments and prestige luxury cars weren’t far behind with an 0.82% drop.

The best performing segment among the cars were the full-size cars, dropping by 0.20%, and the premium sporty cars, down by 0.23%. Subcompact cars followed with a drop of 0.28%.

For trucks and SUVs, subcompact luxury crossovers were next after full-size pickups with a decline of 0.59% with full-size van prices declining 0.45%.

“The Canadian market continued to decrease, with declines easing slightly from the prior week,” CBB analysts said in its weekly wholesale price report. “Supply is building with decreasing demand for vehicles at auction on both sides of the border.”

That said, inventory continues to get purchased in upstream channels.

Conversion rates were stable this past week with some observed sell rates as low as 8% and as high as 61% — but most were between 25-35%, CBB reported.

“Last week we saw more sellers dropping floors, which has been contributing to less lanes with lower sell rates,” CBB said.

In the U.S., depreciation eased even more, with prices dropping by an average of 0.19%. The prior week, prices dropped by 0.23%. Cars are also depreciating faster than trucks and SUVs across the border. Last week, cars dropped by 0.25%, while trucks and SUVs dropped by 0.16%.