05.12.2026

Market Insights – 5/12/26

Wholesale Prices, Week Ending May 9th,2026

The Canadian used wholesale market saw a decline of -0.21% in pricing for the week. Car segments prices were flat at 0.0% while the Truck/SUV segments decreased by -0.37%. Overall Sporty Car segment saw the biggest increase of +0.24%. The largest declines in the Car segments were seen in Sub-Compact Car at -1.55% and Mid-Size Car with -0.34%. The largest declines in the Truck/SUV segments were Full-Size Van with -2.50% followed by Compact Van at -1.64%.

Car Segments

• Last week the market steadied, with cars essentially flat overall at 0.00%.
• The largest declines came from Sub-Compact Car (-1.55%), Mid-Size Car (-0.34%), and Near Luxury Car (-0.16%).
• The smallest declines were reflected in Compact Car (-0.05%) and Near Luxury Car (-0.16%).
• Sporty Car (+0.24%), Full-Size Car (+0.19%) and Luxury Car (+0.18%) all noted a gain in values.

Truck / SUV Segments

• Last week values softened, with trucks down 0.37% overall.
• The largest declines were Full-Size Van (-2.50%), Compact Van (-1.64%), Full-Size Crossover/SUV (-0.73%), and Minivan (-0.42%).
• Full-Size Pickup (-0.01%), Mid-Size Luxury Crossover/SUV (-0.09%) and Sub-Compact Crossover (-0.10%) all returned the smallest depreciations.
• The only category with an increase was Full-Size Luxury Crossover/SUV (+0.15%).

Wholesale

The Canadian market continues its downward trend, with a softer decline compared to last week. Truck segment values experienced a 0.05% shift, resulting in an overall change of –0.37%. A 0.32% shift in car segment values resulted in a neutral net change of 0.00%. Approximately 27% of market segments saw average value movements greater than ±$100.Auction sale rates across watched lanes ranged from 20.9% to 86.2%, resulting in a 48.3% average. Fluctuations in auction performance continues, driven by political conditions and sellers standing firm on floor prices. Auction inventory has returned to normal levels; 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 $37,700. This analysis is based on approximately 199,000 used vehicles listed for sale on Canadian dealer lots.

Market Insights

Economics & Government

• The -Unemployment Rate increased to 6.9% in April, up from 6.7% in March as
  17,700 jobs were lost during the month. Full-time employment dropped by
  46,700, offset by a gain of 29,000 part-time positions.
• Canada recorded a Trade Surplus of $1.8 billion in March as for the first time
  since September 2025, the value of exports exceeded that of imports. The high
  price of oil along with precious metals such as gold pushed the value of total
  exports to $78.8 billion, the highest level since January 2025.
• The yield on Canadian 10-year government bonds have increased slightly to
  3.37%.
• The Canadian dollar is around $0.734 this Monday morning, a slight increase
  from $0.731 a week prior.

U.S. Market

• Wholesale market conditions showed signs of softening last week as pricing gains became less consistent despite steady buyer activity and improving auction conversion rates, which rose to 64% (+1% WoW). Clean, well-equipped vehicles continued to outperform, while average-condition inventory faced more selective bidding. Car values edged higher, led by full-size cars, while weakness in full-size pickups weighed on the truck segment overall.

Industry News

• For the first time, Canadians are seeing close to price parity for EVs in comparison to gas equivalents. As EVs again receive a federal rebate on top of strong manufacturer incentives, Compact Crossovers, which makeup the largest volume of Canadian new car sales is seeing the closest comparisons in price than ever before.
• Some new car examples of EV price parity can be seen in the most affordable EVs offered. The Fiat 500e receives the federal EVAP rebate along with $8,000 in manufacture discount; making this model available for just$29,865. Other models at low prices are the Chevrolet Bolt ($35,019), Subaru Uncharted ($36,403), and Kia EV4 ($36,861).
• Geely says it is the first Chinese carmaker to bring its models to Canada with its Eletreelectric performance SUV from Lotus. With only 18 units shipped so far, the Eletre is not your average model, competing with SUVs from brands like Aston Martin, Lamborghini and Porsche.
• Lexus has unveiled its next electric SUV. The TZ-Series will act as the first 3-row electric model from the luxury brand and shares its platform with the upcoming electric Toyota Highlander. Produced out of Japan, the TZ differs from its Toyota cousin, with more power with up to 400hp and greater overall luxury. Its EPA tested range is 480km or 300 miles.
• Honda Motor Co. Stops all plans for its $15B plant investment as it rejigs product strategy amidst volatile EV market
• Mitsubishi has suffered significant operating profit erosion losing roughly one third from U.S. tariffs as it is the only Japanese manufacturer without an American assembly plant.