MARKHAM, Ontario -

The Canadian wholesale vehicle market closed 2021 with 21 consecutive week-over-week increases. And then, 2022 started with two straight declines, according to Canadian Black Book, which said overall market prices fell 0.10% the week ending Jan. 7 and 0.05% the week ending Jan. 14.

The third week of the month (ending Jan. 21) wholesale prices were “relatively flat,” climbing 0.06%, CBB said.

In other words, there appears to be some moderation in wholesale values in Canada

Car segments were up 0.13%, while truck segments saw no change, according to the latest CBB Automotive Market Update.

On the car side of the market, near-luxury cars showed the most growth (up 0.75%), while prestige luxury car showed the biggest decline (down 0.43%).

Full-size vans showed the most growth among truck segments (up 0.98%), while small pickups had the steepest drop (down 0.75%).

“Prices for truck/SUV segments remained flat for the week while the car segment increased slightly, as buyers/dealers continue to take a wait and see approach,” the company said.

Later in the report, CBB said there was stabilization in the market last week after the two declines to begin 2022.

“Supply remains low while demand continues to weaken on both sides of the border. Upstream channels continue to tap supply before it can be made available at physical auctions,” CBB said.

And for those units that made it to auctions, a slight drop in demand led to some slowdown in conversion rates, as some lanes saw rates as low as the 40% range, CBB said.

The stronger quality vehicles still received quite a number of bids, however. Along those lines, CBB said “the quality of vehicles at auction remains somewhat below average as the supply of better-quality vehicles continues to be bought upstream.”

On the retail side of the market, used-car listing prices remain at “historic highs.”

The most recent 14-day moving average, which is based on analysis of approximately 120,000 used cars listed by Canadian dealers, was up past $33,000.