The decline in Canadian wholesale vehicle values picked up speed last week, with the drop in both truck/SUV and car segment growing steeper.

That’s according to the latest Market Insights report from Canadian Black Book, which pinpointed the overall market decline at 0.34%, up from 0.19% the week before.

For the same week of 2017-2019, the decline was 0.20%, CBB said.

The drop in truck/SUV prices climbed from 0.26% to 0.35%, while the slowdown in car segment prices increased from 0.10% to 0.34%., according to CBB.

Each of the nine car segments decreased in price – the first time in six weeks that has happened – and the most significant drop was for prestige luxury cars, which fell 0.63%, according to the report.

On the truck/SUV side, compact vans were up 1.65%, while small pickups (up 0.06%) and subcompact luxury crossovers (up 0.16%) were up modestly.

The truck/SUV segments were down in price, with the biggest drop occurring in subcompact crossovers (down 1.09%) and full-size luxury crossovers/SUVs (down 0.99%).

Overall, a little more than 45% of the changes were more than $100, CBB said, and auction sales rates averaged 46.6%, with rates ranging from 21.9% to 79.4%.

Commenting on sales rates, CBB said they were, “influenced by seasonal trends, political conditions, and firm seller floor prices.”

Analysts added: “Auction inventory increased slightly, though upstream channels continue to receive priority access. Demand for high-quality vehicles remains strong on both sides of the border.”