MARKHAM, Ontario -

Wholesale vehicle prices in both car and truck/SUV segment groups have now declined 15 straight weeks, with the drop in car prices a bit higher than seasonally expected last week and truck declines aligning with typical trend lines.

That’s according to the COVID-19 Weekly Automotive Market Update that Canadian Black Book released Tuesday.

“As the industry approaches the time of year when retailers will begin to stock up on product for the spring, it remains to be seen what impact pandemic-related uncertainty will have in the marketplace, and on the mindset of spring car shoppers,” CBB said.

Overall wholesale values were down 0.24% last week, compared to a 0.40% decline the week before and slightly higher than the 0.22% 24-month average, according to the report.

Car segment prices fell 0.29%, improving from a 0.62% decline the prior week but higher than the 0.22% 24-month average decline.

The premium sporty car was the only car segment to increase (up 0.03%), while the compact car had the steepest decline (0.68%)

Truck and SUV prices softened 0.19%, versus a 0.18% drop the week before and a 0.21% 24-month average decline. The majority of truck segments were down, with the midsize crossover/SUV showing the most softness (down 0.51%), CBB said.

The segment with the most growth — and the only to see “any real material gains” — was the compact vans, where prices increased 0.30%, according to CBB.

As far as the sales rate in the auction lanes, last week’s rate (approximately 50%) than pre-pandemic levels (in the neighborhood of 70%). However, CBB does anticipate an improvement in sales rates with the spring selling season on tap.

“Some auctions are still not allowing potential bidders to walk the lots and preview vehicles prior to the sale, due to the various government restrictions,” CBB said in the report. “This is of course a necessary reality; however, it does not help to create confidence in the product for potential buyers. Once some auctions with this restriction can again allow buyers to walk the lots, this is expected to increase sales rates and bidding activity.”