The Canadian wholesale used-vehicle market continued to weaken in August, with values declining each week. The market performed better than normal seasonal trends early in the month before depreciation accelerated in the second half. Cars generally held up better than trucks and SUVs, with Truck/SUV values experiencing greater downward pressure during three of the four weeks.

Despite softer wholesale values, used retail asking prices moved higher. The average listing price increased from approximately $36,900 early in August to $38,200 by month-end, while dealer inventory remained steady at roughly 169,000 vehicles. Demand for high-quality used inventory also remained strong, even as auction sales rates weakened.

For fleets, the softer wholesale market could put some near-term pressure on remarketing returns, particularly for trucks and SUVs. However, rising retail prices and continued demand for quality inventory provide some support. Fleets approaching replacement should closely monitor wholesale trends and consider vehicle segment and timing when making remarketing decisions.