Last week, prices at auction decreased by 0.42% overall, according to the latest analysis from Canadian Black Book.

CBB data indicates that prices held a bit stronger than weeks prior.

Two weeks ago, prices dropped by an average of 0.61%, up slightly from the previous week. The car segments were ahead in depreciation two weeks ago, with a 0.76% drop. Truck and SUV depreciation came in at 0.46%.

Last week, this trend continued, with the car segments dropping 0.52%, compared to trucks and SUVs with a slight dip of 0.32%.

For the second week in a row last week, albeit in different segments, two out of the 22 segments CBB tracks saw an increase in price: The subcompact luxury crossover segment inched up by 0.21%, while the compact van segment was up by 0.10%.

Last week, the segments with the largest declines were subcompact cars, with a drop of 1.25%, followed by compact cars, dropping by 1.07%.

The larger decline was seen among the car segments this past week. All nine segments saw a drop in value. The slightest declines in the car segments were reported in the premium sporty cars, with a 0.09% drop, and the luxury cars with a drop of 0.12%.

For trucks and SUVs, depreciation is slowing down. Full-size crossover/SUVs dropped by 0.50%, marking the largest decline among the larger segments.

Compact/crossover/SUVs were down by 0.47%, while full-size pickups slid by 0.46%, rounding out the biggest change in values seen last week by CBB analysts.

Analysts said the Canadian wholesale market continued to decrease last week, with declines closer to the historical average than the last few weeks.

“Supply is building with decreasing demand for vehicles at auction on both sides of the border,” the report said. “Upstream channels continue to tap supply before it can be available to wholesale markets.”

Most segments saw a change in average value of more than $100 this past week, and cars continued to decline at a faster rate than larger segments, continuing a trend that popped up the past couple of months.

Conversion rates were improving this past week, CBB said, with some rates as low as 29% and as high as 66%.

The average listing price for retail used vehicles in Canada was slightly down last week. The 14-day moving average came in at $37,000.

In the U.S. auction lanes last week, the market decreased 0.33%; the same movement seen the week before.

In the U.S., car segments decreased by 0.22% last week, compared to the prior week’s 0.26% decrease. Truck segments were down by 0.38% last week, compared to 0.36% the week prior.

Looking back

Two weeks ago, two of the 22 segments CBB tracks in Canada experienced small price gains, as well: The compact van segment increased by 0.64%, followed by the premium sporty car segment, which was up 0.15%.

On the other hand, the largest declines were seen in the prestige luxury car segment, down by 2.06%, and the subcompact cars, dropping by 1.98%.

Truck depreciation was slight, and none dropped over 1%. Those dropping the most were the compact luxury crossover/SUVs (down 0.91%) and the subcompact luxury crossovers (down 0.74%). Once again, the compact vans were the only larger segment with price appreciation.