After dipping 0.23% last week, Canadian wholesale vehicle prices have now made four consecutive declines.

That’s according to the latest weekly report from Canadian Black Book, which said car segments were off 0.10% last week and truck/SUV prices fell 0.36%.

The 0.23% overall decline is steeper than both the previous week’s drop of 0.14% and the average for the same week of 2017-2019 (down 0.08%).

Calling the market still “stable overall,” CBB said wholesale has moved “slightly into the negative territory again.”

The company said in the report: “Supply remains low while demand continues to soften on both sides of the border. Upstream channels continue to tap supply before it can be made available at physical auctions.

“Conversion rates increased this past week, as rates were observed into the 55% range on some lanes last week, with the few low kilometer, good condition units garnering high levels of bidding activity. In general, the quality of vehicles at auction remains somewhat below average as the supply of better-quality vehicles continues to be bought upstream,” CBB said.

Breaking it down by segment, all but five in CBB’s data set showed price declines last week: compact cars (up 0.03%), sporty cars (up 0.01%), premium sporty cars (up 0.01%), subcompact luxury crossovers (up 0.21%) and full-size pickups (up 0.03%).

The most significant declines on the truck side were for compact vans (down 1.53%), full-size luxury crossovers/SUVs (0.73%) and full-size crossovers/SUVs (0.71%), while on the car side, midsize cars (0.56%), near-luxury cars (0.23%) and full-size cars (down 0.20%) had the greatest slides, according to CBB.