ADESA Canada Price Index
ADESA Canada is the largest provider of wholesale used vehicle auctions in Canada. The Index is calculated from millions of pieces of sales data from ADESA Canada’s live open bidding auctions.
The ADESA Canada Used Vehicle Price Index has been updated through October 2017. The index increased after being adjusted for seasonality. Wholesale prices increased on average by 0.30% M-o-M.
The Canadian consumer confidence for October rose 4.2 points to 116.6 (2014 = 100) a significant rebound from September where every region reported declines.
New vehicle sales jumped 6.3 percent in October, making it the sixth consecutive month of increases and the ninth all time monthly sales record of 2017. An overall positive Canadian economy and a growing job market were some of the reasons for the upbeat market. October saw a new sales record of 164,214 units for the month.
The light truck market remained robust, increasing 13.6 percent in sales year-over-year. Light trucks now capture 68 percent of the total market or approximately 1.2 million units year-to-date. A total of over 700,000 SUVs have been sold so far in 2017. Year-to-date, total light truck sales improved 9.7 percent.
Total passenger car sales plunged 7.9 percent in October to 48,797units marking the lowest October total since year 2000. It is expected that sales of the entire passenger car market will finish lower than the SUV market.
At the manufacturer level, a handful of brands performed better than the industry average in percentage gains. Volvo (+57.7%), Volkswagen (+31.5%), General Motors (+26.5%) and Porsche (+22.6%) had some of the best results in October – all year-over-year sales figures.
Price movements by segment were mostly negative in October. Minivans showed the most drastic decrease at -10.3% ($1,067), followed by Mid Compacts at -7.2% ($516), Fullsize Pickups at -4.5% ($1,035), and Compact SUVs at -2.8% ($359). Midsize vehicles showed the highest increase at 2.8% ($266), followed by the Midsize SUV at 1.6% ($223).