ADESA Canada Price Index
The ADESA Canada Used Vehicle 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 with the addition of used vehicle auction sales data purchased through the National Auto Auction Association [NAAA].
The ADESA Canada Used Vehicle Price Index has been updated through April. The index was down after being adjusted for seasonality. Wholesale prices fell on average by about 0.4% M-o-M.
The Canadian economy exhibited resiliency in the month of April – consumer confidence declined 4.9 points to 75.6 continuing a disconcerting trend that has seen the index fall in six of the last seven months, the unemployment rate remained unchanged at 7.2% as losses in the transportation industry were offset by gains in manufacturing and national gasoline prices dropped by approximately $0.04 per litre to end the month at $1.24 per litre. On a more positive note, the Canadian loonie bounced back to trade just below parity against the US dollar (monthly average was $0.9818).
Light duty vehicle sales for the month of April increased by an impressive 8.9% from sales a year ago to 171,807. Year-to-date, overall sales have advanced 1.4% to a total of 527,019 vehicles sold.
Passenger car sales increased just 1% to 77,106 units, while light truck sales increased by a significant 16.3% to 94,701.
April punctuated the end of a four month trend that began last December with slightly lower vehicle sales by posting sales volumes not seen since April 2008.
Price movements were mostly negative in April. Mid Compact Cars rose 3.8%($289), while Midsize Cars were up slightly at 0.6%($65). Minivans fell 3.4%($325), Fullsize Pickups dropped 2.4%($442), Compact SUVs lost 2.2%($279), and Midsize SUVs were down 1.8%($285).