Wholesale vehicle prices continued a slow decline last week with a 0.31% drop, right after finishing February with prices down by 9.0% year-over-year, according to the latest weekly report from Canadian Black Book.

The car segments saw bigger price drops last week, with prices declining by just over a half-percent. Trucks and SUVs experienced a 0.10% price decline.

A few more groups saw increases this week, with four out of 22 segments CBB tracks lifting slightly in value, all of which were trucks. These two led the pack:

— Compact luxury crossover/SUVs increased by 0.63%
— Full-size crossover/SUVs increased by 0.61%

Other trucks increasing in value were compact crossovers/SUVs (up 0.25%) and full-size luxury crossover/SUVs (up 0.22%).

For the biggest declines in value, compact van prices dropped by 1.77%, while full-size cars declined by 1.66%.

The best performing car segment was premium sporty cars, with a drop of 0.14%, followed by prestige luxury cars (down 0.26%) and midsize cars at a drop of 0.28%.

Compact vans led the truck segment price declines, followed by full-size pickups down 0.59% and small pickups down 0.56% and full-size vans down 0.54%.

“The Canadian market continued to decrease, with declines that were less than the prior week,” CBB analysts said in the report. “Supply is building with decreasing demand for vehicles at auction on both sides of the border. Upstream channels continue to tap supply before it can be available to wholesale markets.”

Other than the four truck and SUV segments that saw increases, most other segments still experienced a decline of more than $100.

Conversion rates were stable this past week with some observed sell rates as low as 6% and as high as 53%, but most were between 30-40%, according to CBB data.

“Last week we saw less sellers dropping floors, which has been contributing to more lanes with lower sell rates,” the report said.

In the U.S. market, declines have slowed a bit. Prices dropped by 0.05% last week.

Cars dropped by 0.14%, while trucks and SUVs saw a decline of only 0.02%.