January Market Overview: Gradual Cooling Across Canada’s Used Vehicle Market
The Canadian used wholesale market declined steadily throughout January, with prices falling each week and limited signs of recovery. Both car and truck segments experienced consistent softening, with moderate but persistent depreciation reflecting a broader market correction and cooling demand.
Wholesale inventory conditions remained soft, with uneven auction activity influenced by economic uncertainty, firm seller pricing, and variable sales rates. While inventory supply rose early in the year before stabilizing, access remained constrained upstream. Demand for high-quality vehicles stayed steady, supporting selective buying.
Used retail pricing edged slightly lower over the month, with gradual declines in average listing prices. Dealer inventory levels remained stable nationwide, indicating a controlled and orderly easing in retail conditions.
Economically, Canada showed mixed momentum. Modest GDP growth contrasted with weak manufacturing activity and a rising unemployment rate. Inflation ticked higher, financial conditions loosened, bond yields declined, and the Canadian dollar weakened slightly. Trade data improved due to stronger exports, retail sales remained resilient, and trade discussions with China advanced on investment, agriculture, and potential EV import limits.
Nissan Targets Strong U.S. Growth on Trucks and Dealer Momentum
Nissan is aiming for double-digit U.S. retail sales growth in 2026, supported by its expanding lineup of U.S.-built light trucks and a broader turnaround strategy. Company leaders say 2025 will mark a revival year, with retail sales expected to climb about 10 percent in 2026 after 873,307 U.S. sales last year. Longer term, Nissan is targeting 1 million U.S. sales by the end of 2027, which would lift market share above 6 percent and mark its best performance since 2019. Dealer sentiment has improved as management works to streamline operations, improve compensation, reduce inventory levels, and boost average dealership returns to at least 3 percent. More than 65 percent of vehicles Nissan sells in the U.S. this year are expected to be built domestically, helping mitigate trade and tariff pressures.
January 2026 Canadian Vehicle Sales Overview
January 2026 Canadian vehicle sales reached an estimated 114,000 units, a 2.9% year-over-year decline from the record-setting January 2025, which matched 2018 as the strongest January on record. Despite the decrease and severe winter weather across much of Canada, sales remained healthy with a SAAR of 2.08 million, outperforming every quarter in the second half of last year.