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MISSISSAUGA, Ontario — While there was still softness in wholesale values during July, they were stronger than anticipated, which pushed the ADESA Canada Used Vehicle Price Index to a sequential upswing for the third straight month.

More specifically, ADESA's data — powered by ALG Canada —shows that there was a 0.8-point month-over-month increase in the index on a seasonally adjusted basis.

"True to ALG's forecast, auction prices continue to show weakness, but not at the level seasonally expected, causing the index to climb," officials pointed out.

Looking at individual segments, the resale values in every category were down less than 2 percent from June in all but three segments: full-size pickups, mid-compacts and compact SUVs, according to officials.

The softness in full-size pickups persisted, as their values were down 5 percent compared to the prior month, despite the sales volume being down 28 percent.

Mid-compact values were static from June, thanks in part to a 29-percent dip in sales volume, officials shared.

"On the other hand, while the compact SUV segment saw 35 percent (284 units) less sales, resale prices for the compact SUV segment increased by 1 percent ($135) month-over-month," they added.

Moving over to new-vehicle sales, there was more than a 6-percent year-over-year improvement during July, and through the first seven months of the year, new-vehicle sales climbed by 8.6 percent.

"This, coupled with the new-vehicle full-size pickup segment continuing to offer substantial price adjustments, provides little price support for this off-lease vehicle segment," officials noted. "Although, with the level of full-size pickup vehicles dropping, an organic price support level is near."