03.24.2026

Market Insights – 3/24/26

Wholesale Prices, Week Ending March 21st,2026

The Canadian used wholesale market saw a decline of -0.07% in pricing for the week. Car segments prices decreased by –0.19% while the Truck/SUV segments increased by +0.02%. Full-Size Crossover/SUV segment saw the biggest increase of +0.75%. The largest declines in the Car segments were seen in Prestige Luxury Car at -0.38% and Mid-Size Car with -0.35%. The largest declines in the Truck/SUV segments were Sub-Compact Crossover with -0.79% followed by Compact Van at -0.64%.

Car Segments

• There was an overall depreciation of -0.19% seen in car segment last week.
• The most pronounced declines were observed in Prestige Luxury Car (-0.38%) and Mid-Size Car (-0.35%), followed by Luxury Car (-0.31%).
• In contrast, three segments exhibited the reverse pattern. Full-Size Car (-0.51%), Sporty Car (-0.18%) and Sub-Compact Car (+0.13%).

Truck / SUV Segments

• Last week truck values reversed past trends and demonstrated an overall increase of +0.02%.
• The strongest gains were recorded in Full-Size Crossover/SUV (+0.75%), followed by Full-Size Pickup (+0.38%), while Mid-Size Luxury Crossover/SUV and Minivan each posted increases of (+0.34%).
• The steepest declines were seen in Sub-Compact Crossover (-0.79%), followed by Compact Van (-0.64%) and Full-Size Van (-0.56%).

Wholesale

The Canadian market’s downward trend continues, with a softer decline compared to last week. Truck segment values presented a 0.01% shift bringing the total change to –0.02%. Dissimilarly, car segment values presented a 0.20% change, resulting in a total decline of –0.41%. Precisely 50% of market segments saw average value movements greater than ±$100. Auction sale rates across watched lanes ranged from 32.6% to 67.8%, resulting in a 44.8% average. Sales rates across auction lanes continue to fluctuate, driven by political factors and sellers supporting firm floor prices. Auction inventory has returned to normal levels, experiencing a small uptick, however upstream channels continue to hold priority sale access to inventory. Buyer demand for high-quality vehicles at auctions on both sides of the border persists.

Used Retail Prices & Listing Volume

The average listing price for used vehicles is slightly decreasing, as the 14-day moving average was at $37,200. This analysis is based on approximately 194,000 used vehicles listed for sale on Canadian dealer lots.

Market Insights

Economics & Government

• Canada’s annual inflation rate dropped to 1.8% in February as the end of last
  year’s federal GST holiday skewed the YoY reporting. As the war in the Middle
  East did not start until February 28, the effect of higher gas prices was not
  factored into the data.
• The Bank of Canada (BoC) left its benchmark rate unchanged at 2.25% but
  announced that it is watching the effects of the war in the Middle East and the
  resulting inflationary pressures closely.
• The yield on Canadian 10-year government bonds have decreased slightly to
  3.28%.
• The Canadian dollar is around $0.729 this Monday morning, a decrease from
  $0.734 a week prior.

U.S. Market

Auction conversion came in at 65% (−3pp WoW), with steady buyer engagement supporting healthy—but more selective—sell-through. Price trends remained positive and accelerated, led by trucks (+0.69%) and supported by cars (+0.34%), as demand continues to favor late-model, clean utility units. The market remains stable but segmented, with strong performance in SUVs and pickups offset by softer, more variable results in sedans and EVs.

Industry News

• The latest news on Chinese EV entrants into Canada anticipate that BYD, Chery, and Geely are certifying their vehicles for entry into the Canadian market. While they will need dealer partners to sell vehicles here, the process is well underway for these brands as a start for Chinese brands to start selling here as early as the end of this year.
• Ontario Premier, Doug Ford expressed concerns to Quebec and British Columbia Provincial leaders on their EV mandates, saying they hurt the country’s auto sector, pushing jobs and investments to the United States. Quebec Premier, Francois Legault dismissed those concerns saying Quebec adjusted targets to reflect the new reality of the North America.
• Ford is changing the way it builds its vehicles, with “Unicasting”. A similar process to Tesla’s Mega casting; Unicasting replaces hundreds of smaller components with much larger aluminum castings. The difference is repairability of these larger parts, which Ford says it has focused its efforts on and sees distinct advantages that advantageously cut down average repair costs.
• The redesigned Kia Telluride enters its 2nd generation, now a larger and more luxurious offering with hybrid power on offer. The 2027 Telluride shares its platform with equally changed Hyundai Palisade and goes on sale later this year.
• Mazda has redesigned its CX-5 compact crossover for 2026, which may not look that different from its predecessor. The beautiful exterior design remains constant while the interior sees the largest changes, increasing infotainment screen size and overall technology offering. The CX-5 retains its 2.5 litre 4-cylinder gas engine, though expectations are for an electrified powertrain to arrive later.