Used automobile market down 0.20%, CBB report exhibits

Costs declined within the Canadian used wholesale market by 0.20% for the week ending on March 21, in keeping with Canadian Black Guide’s newest Automotive Market Replace.

Automobile segments had been down 0.15% this week (in comparison with -0.21% the earlier week), whereas the truck and SUV segments had been down 0.25% (versus -0.22% final week). A take a look at information for the general market exhibits a decline of 0.20% this week, in comparison with -0.22% the earlier week.

“The Canadian market continued to lower in contrast to the will increase seen throughout the border over the previous week. The general lower was related [to the] historic common,” mentioned CBB in its report. “Provide stays low with excessive demand for more moderen and clear situation automobiles on each side of the border.”

For automobile segments, all besides two classes skilled decreases. People who noticed a decline included luxurious automobiles (-0.48%), close to luxurious automobiles (-0.30%) and sub-compact automobiles (-0.28%). The 2 classes that managed will increase had been mid-size automobiles (+0.70%) and sports activities automobiles (+0.02%).

As for the truck and SUV segments, once more, all besides two skilled decreases. The best declines got here from compact vans (-0.70%) and full-size vans (-0.45%). Different classes embody full-size crossovers/SUVs, mid-size luxurious crossovers/SUVs, and full-size pickups — all of which skilled the identical lower (-0.38%).

The 2 classes that managed will increase had been compact luxurious crossovers/SUVs (+0.07%) and sub-compact crossovers (+0.01%).

The typical itemizing value for used automobiles, week-over-week, was constant, because the  14-day shifting common was roughly $36,000. Based on CBB, the evaluation relies on “roughly 180,000 automobiles listed on the market on Canadian supplier heaps.”

In different information, an IPSOS ballot exhibits shopper confidence in Canada dropped to 47.28 factors in March from 47.49 factors in February. And the Canadian greenback hovered round $0.728 on Monday morning — almost matching the $0.725 charge from the earlier week.