CARY, N.C. -

According to the latest quarterly risk outlook report from RVI Analytics, Canadian used-vehicle prices were down slightly year-over-year in June, but picked up some momentum on a month-over-month basis.

Specifically, RVI’s Used Vehicle Price Index was at 1.010 for June, down 0.6% from a year ago but up 9.9% from May.

Taking out low-volume segments, some of the more notable increases month-over-month included minivans (up 21.4%), full-size pickups (up 14.6%) and small SUVs (up 10.6%).

Looking forward, the RVI Residual Value Index for full-year 2020 is expected to be 0.909, down 10% from its June reading of 1.010 and down 8.5% from 2019.

RVI is projecting a 0.8% year-over-year drop in 2021, before respective gains of 4.8%, 0.8% and 1.1% in the following years.

Over at Canadian Black Book, its latest weekly COVID-19 Market Update projects that for the rest of 2020, wholesale prices will be an average of 10% softer than pre-virus forecasts — an improvement over the initial outlook calling for a 17% slide from pre-virus projections.

Breaking that down, CBB is calling for a 13% softening in car segment values, with truck/CUV/SUV prices down 8%.

A recovery is expected to begin early next year, CBB said.

“The Canadian wholesale used-vehicle price trends from last week continued to be strong. The previous trend of sharp decreases has been replaced by stabilization on the car side and significant increases on the truck side of the lot,” CBB said in the report.

More specifically, car segment values climbed 0.11% last week after a 0.04% dip the prior week, CBB said, with trucks/SUVs/CUVs climbing 0.62%.

The latter marked the fourth straight week of growth for trucks/SUVs/CUVs and the strongest weekly gain of the last two years, CBB said.

“It remains the outlook of the CBB team that there will still be an additional drop in wholesale prices, compared to our pre-COVID-19 expectations this year,” its analysis said. “This further decrease in values will occur this fall/winter as the Canadian auto sector works to recover from the damage caused by COVID-19.”