After a brief slowdown, the Canadian wholesale used-vehicle market’s long downward trend picked up pace again for the week ending Aug. 31.

In its weekly Market Insights report, Canadian Black Book reported a 0.29% decline in the overall market, a jump from the previous week’s 0.20% decrease and more than the 0.28% loss of the week before that.

Once again, cars were the volatile factor. While truck segments held steady in their rate of decline at 0.16%, cars values fell 0.43% compared to the previous week’s 0.25% drop.

Leading that fall was the near-luxury car segment, which was down 0.87% one of three segments that dropped more than $200 during the week and four that were down 0.40% or more. The largest fall in dollars came from premium sporty cars at $343 (0.40%), followed by prestige luxury cars ($282, 0.43%), near-luxury cars ($247), luxury cars ($182, 0.47%).

Compact cars were up 0.09%, the only car segment to gain value. Two truck segments — full-size pickups ($172, 0.51%) and small pickups ($1) — posted gains, while compact van values remained flat week-over-week. Three segments fell more than $100 for the week, with full-size crossover/SUVs down $138 (0.22%), full-size crossover/SUVs down $137 (0.35%) and mid-size crossover/SUVs down $104 (0.41%).

While wholesale prices continue to decline, retail prices have remained relatively steady for much of 2024. Again, in the week ending Aug. 31, the 14-day moving average based on approximately 220,000 used vehicles listed for sale on Canadian dealer lots was $34,200.

While the Canadian wholesale market continues heading downward, U.S. wholesale prices seem to have stabilized. A week after recording no gain or loss, the U.S. market was up 0.01%, with truck/SUV segments rising 0.09% while cars were down 0.20%.