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MISSISSAUGA, Ontario — While auction pricing was still soft during May in Canada, values were not as low as seasonally expected, which helped to push the ADESA Canada Used Vehicle Price Index up from its April level.

Specifically, ADESA's data — powered by ALG Canada — indicated that there was a 0.5-point increase in the index from the prior month on a seasonally adjusted basis.

"Auction prices continue to show weakness, but not at the level seasonally expected, causing the index to climb," officials explained. "Overall volume continues its ascent and was up by approximately 4 percent compared to April and is near levels last experienced this period last year."

Looking at some individual segments, resale prices for full-size pickups climbed $431 during the month, and volume of those vehicles at auction fell 14 percent, officials shared. Resale pricing for midsize SUVs moved ahead $47 as its volume dipped 21 percent.

Officials explained that these gains coincide with burgeoning interest for trucks on the new side of the market. Moreover, new-vehicle sales in May for passenger cars were off 10.3 percent year-over-year.

So far this year, passenger cars' share of the new-vehicle market in Canada through May was at 46 percent, down from 51 percent in the year-ago period.

In the midst of new-truck sales continuing to "power ahead,"  the vehicle categories with the heaviest resale value drops in May were the midsize segment (down $566 from April) and mid compacts (down $407).

Looking forward, officials project continued weakening on the wholesale side this month.

"Expectation is that June will see further softening as both new vehicle incentives are expected to remain ramped up continuing to apply price pressure on the Canadian resale market and as the XRate hovers near parity — dealers/wholesalers continue to source used inventory state-side," they noted.