More of the same — Canadian wholesale values keep falling
![](https://www.autoremarketing.com/wp-content/uploads/2024/07/CBB-chart-072524-1.jpg)
Image courtesy of Canadian Black Book.
Welcome to this week — same as the last week.
Canadian Black Book’s Market Insights report for the week ending July 23 wasn’t much different than the previous one, not to mention many others in recent months, with wholesale values falling.
The current report shows prices down 0.37% overall, slightly less of a decline than the 0.41% drop the previous week.
Car segments fell 0.40%, led by luxury cars at 1.08% and prestige luxury cars (0.68%), both of which lost more than $400 in value during the week. Truck/SUVs were down 0.34%, with luxury SUV segments taking the biggest drops — luxury crossover/SUVs at 0.70%, mid-size luxury crossover/SUVs at 0.57% and full-size luxury crossover/SUVs at 0.53%.
Full size pickups (up 0.20%) and minivans (up 0.13%) were the only two segments to gain value.
Monitored auction sale rates ranged from 28% to 68%, a variation CBB said could be attributed to the decrease in floor prices.
The report also noted a rise in supply at the auctions.
“As more supply appears in the wholesale market,” CBB analysts said, “upstream channels continue to gain early access. This has led to an increase in inventory, driven by high demand on both sides of the border for vehicles at auctions.”
The report called the 14-day moving average retail listing price for used vehicles, currently at $34,200, “stable.” It also noted the inflation rate fell in June, matching a three-year low and “signaling a continuation of the disinflation trend in Canadian consumer prices.”
In the U.S., the overall depreciation rate continued to accelerate as values fell by 0.74% — well above the pre-pandemic average of 0.25%. Six out of the 22 segments tracked by Black Book decreased by more than 1% for the week. Car segments dropped 0.75%, while truck/SUV segments sank 0.73%.