ADESA Canada Price Index
The ADESA Canada Used Vehicle Price Index
The ADESA Canada Used Vehicle Price Index has been updated through August 2018. The index increased after being adjusted for seasonality. Wholesale prices increased on average by 0.46% M-o-M.
For the sixth consecutive month, Canadian new light vehicle sales have decreased after a strong start to the year in January and February. Down 1.6% over August 2017, sales last month settled at 180,942 units, a difference of nearly three thousand units. Despite the minor decrease, last month’s sales still hold the second strongest August sales on record, roughly five thousand units above August 2015, holding third place. Year-to-date sales remain just 0.8% shy of 2017’s record but approximately 4.4% above 2016 figures.
Passenger car sales declined 10.6% in August while light trucks increased 2.6% with sales settling at 52,842 and 128,100 units respectively. Year-to-date passenger car sales slipped 9.2% while year-to-date light truck sales grew 3.2%.
Even with the ongoing slowdown in the new light vehicle market, several brands reported impressive results. Some highlights include:
Genesis sales continued to ramp up and increased 236.4% in August and 169.8% year-to-date
Volvo maintained a strong 43.5% sales increase year-to-date with a 44.6% sales increase for August 2018
Mitsubishi (+17.8%) and Acura (+13.1%) outperformed the market and secured double digit percentage sales increases
Ford, with a 7.1% sales increase, took pole position as the volume leader for August, overtaking General Motors which held the position in August of last year
Price movements by segment were mostly positive in August. Minivans showed the most drastic increase at 4.9% ($561), followed by Fullsize Pickups at 3.8% ($980), Compact SUVs at 3.3% ($452), and Midsize vehicles at 1.4% ($149). Mid Compact vehicles showed the most drastic decrease at -4.2% ($361) followed by Midsize SUVs at -3.2 ($546).