Canadian Used Prices Hold Steady in July
Based on two analyses of used-vehicle behavior in Canada during July, it appears Canadian wholesale prices were rather static in July.
More specifically, the latest ADESA Canada Used Vehicle Price Index was released this week, and according to ADESA’s data — powered by ALG Canada — July’s index climbed “moderately” month-over-month. The index is based on four-year-old vehicles.
Officials noted that the uptick in wholesale prices from June was roughly 0.1 percent.
Likewise, RVI Group spotted a “stagnant” Canadian used-vehicle price environment in July. The firm released its monthly index late last week, and found that July wholesale values (when looking at two- to five-year old vehicles, seasonally adjusted) climbed 0.2 percent month-over-month.
The RVI Used Car Price Index was 1.019 in July. RVI did note that the index was up 1.8 percent year-over-year.
Segment Trends
The respective analyses also broke down trends by vehicle categories, as well.
In the report on the ADESA Canada index, officials noted that minivan prices climbed the most from June, as they were up 7.1 percent. Compact SUVs (up 3.9 percent month-over-month) and full-size pickups (up 3.6 percent) jumped in price, as well.
Showing declines from June were midsize SUVs (down 5.8 percent), mid-compacts (down 4.6 percent) and the midsize segment (down 1.6 percent).
Moving over to RVI’s analysis, its data noted that full-size pickups had the largest month-over-month (up 4.2 percent) and year-over-year (up 12.4 percent) price increase among the volume segments.
Compared to June, values for small sedans (up 2.3 percent) and midsize SUVs (up 1.2 percent) also increased. The remaining six volume segments showed a downturn in price month-over-month.
Year-over-year, small SUVs (up 10.1 percent), small sedans (up 4.6 percent), luxury small sedans (up 3.9 percent) and subcompacts (3.2 percent) showed gains, and five volume segments were down in value from July 2012.
The most significant year-over-year drop, RVI said, was for the minivan segment (down 5.6 percent).