2 Takes on Canada's Used-Car Price Movement in June
ADESA Canada and RVI Group both released their respective Canadian used-vehicle value indices for June this week, both of which moved up modestly from May.
But their individual findings on more specific wholesale price behavior for the month were quite different. So what, exactly, did these two firms observe about Canada's used-car market?
Starting with ADESA Canada, its data — powered by ALG Canada — indicates that the ADESA Canada Used Vehicle Price Index ticked modestly upward after seasonal adjustments. Officials noted that wholesale prices fell an average of roughly 3.1 percent from May.
They added: "Price movements by segment were mostly negative in June," pointing out that midsize SUVs (up 5.8 percent) were the only class to see an increase.
Full-size pickup values dropped 11 percent for the most severe decline, followed by minivans (down 4.7 percent), compact SUVs (down 4.2 percent) and mid-compacts (down 3.6 percent). There was no change in price for the midsize segment, officials explained.
Moving over to RVI's analysis, it indicated that Canadian wholesale values (for two- to five-year-old vehicles, seasonally adjusted) climbed 0.4 percent month-over-month and increased 4 percent year-over-year. Specifically, the RVI Used Car Price Index was at 1.017 for June.
Eleven of the 19 vehicle categories RVI tracks — volume and non-volume segments, alike — climbed in price from May, while 13 of the 19 segments increased year-over-year.
Seven of eight volume segments jumped month-over-month, and the same seven also increased in price from June 2011.
Topping the chart for month-over-month growth among these volume segments were minivans, whose prices jumped 4.3 percent from May. They were followed by subcompacts (up 3.6 percent) and midsize sedans (up 3.1 percent).
Year-over-year, the greatest increase for the volume segments was with full-size pickups (up 11.4 percent), according to RVI. Small SUVs were also up double-digits (10.9 percent) from June 2011.
The only volume segment to decline in either measure was the midsize SUV class, whose values fell 5 percent form May and dipped 4.7 percent from June 2011.