Slower gains in Canadian vehicle prices, but market still strong
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MARKHAM, Ontario –
While the degree of increase was lower, it was a steadily strong week for the Canadian wholesale vehicle market, according to Canadian Black Book, which found overall prices were up 0.01% for the week ending July 2.
That compares to a hike of 0.05% the prior week. The 2017-2019 average for the same week was a decline of 0.10%, CBB said in the Canadian Auto Market Update released Tuesday.
Car segments, however, increased their upward price trajectory from 0.04% to 0.09% last week. The 2017-2019 average was a dip of 0.12%.
The car segments with the largest gains were the premium sporty cars and prestige luxury cars, both of which were up 0.30%, CBB said.
Midsize cars (down 0.59%) had the largest decrease.
Trucks and SUVs, meanwhile, were down 0.06%, compared to an increase of 0.06% the prior week. The 2017-2019 average movement was a drop of 0.08%.
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The most significant gain was for minivans, whose values were up 0.40%. The steepest drop was for subcompact luxury crossovers, which fell 0.47%, according to CBB.
Meantime, the company described the retail side of the market as “red-hot.”
In the report, CBB said, “The average listing price continues to hit historic highs for used vehicles as the 14-day moving average now sits just under $27,000, up $200 from the highs hit last week.”
