The last week of 2024 brought an easing to the continued downward trend of the Canadian used-vehicle wholesale market.

Values fell 0.21% for the week ending Dec. 28, according to Canadian Black Book’s weekly Market Insights report, a milder drop than the 0.33% decline the previous week and far smaller than the 0.64% plunge of the week ending Dec. 10.

Still, all but two of the 22 total segments lost value during the week — minivans were up 0.21% and luxury cars rose 0.06% — while three segments lost more than $100, with full-size pickups plummeting $433 (1.30%) to lead a list that also included premium sporty cars ($192, 0.24%) and sub-compact luxury crossover/SUVs ($117, 0.53%).

Overall, truck/SUV segments sank 0.26% while cars were down 0.15%, with midsize cars taking the largest drop among that category at 0.42%.

In addition to the decreased rate of price decline, CBB analysts said the increase in supply entering the wholesale market has slowed from previous weeks, though they said upstream channels continue to gain early access and there is still high demand for more inventory and vehicles at auctions on both sides of the border.

CBB also noted a continuous fluctuation in sale rates across various auction lanes, which the analysts attributed to the recent adjustments to interest rates and the ongoing gradual decline in floor prices, among other factors.

While wholesale values keep dropping, retail prices are rising, with the 14-day moving average listing price up to $35,000.

In the U.S., auction activity was greatly reduced due to the Christmas holiday, as many auctions rescheduled sale dates or canceled sales. That led a sharp drop in the nation’s overall conversion rate, which fell to 44% from 56% the previous week. Depreciation also slowed, with the overall market down 0.38% after a -0.46% decline the week before.