Market Reports | Published May 3, 2026 | Updated monthly
Category: Market Reports | Author: TradeBasis Team | Verification window: April 1–April 25, 2026
Quick Answer: Canadian Used Vehicle Market in April 2026
Canada’s wholesale used vehicle market declined every week of April 2026, with cumulative losses of roughly 1.0% across the month. The national average listing price reached $31,907 in March (CARFAX Canada), down 2.3% year-over-year. Inventory rebounded sharply, up 31.6% month-over-month, while SUVs grew to 55.3% of all used listings. Full-size pickups and minivans were the only consistently appreciating segments. Sub-compact cars, full-size vans, and luxury crossovers led the declines. The spring market arrived but is being moderated by trade uncertainty, normalizing supply, and continued EV depreciation.
April 2026 at a Glance
| Metric | April 2026 | Source |
|---|---|---|
| National average used listing price (March) | $31,907 (+0.5% MoM, −2.3% YoY) | CARFAX Canada |
| Wholesale market change, week ending April 25 | −0.22% | Canadian Black Book |
| Wholesale change, week ending April 18 | −0.25% | Canadian Black Book |
| Inventory growth, March vs. February | +31.6% | CARFAX Canada |
| SUV share of used inventory | 55.3% (up from 51.1% YoY) | CARFAX Canada |
| Used Vehicle Retention Index (March) | 132.5 (+0.3 MoM, −5.3% YoY) | Canadian Black Book |
| Avg auction sale rate, week ending April 25 | 42.5% | Canadian Black Book |
Weekly Wholesale Movement: April 2026
Canadian Black Book’s weekly Market Insights reports show a consistent — if slightly softening — downward trend across April. Each week of April posted a modest decline:
| Week Ending | Overall Market | Cars | Trucks/SUVs |
|---|---|---|---|
| April 4 | −0.20% | −0.10% | −0.25% |
| April 11 | −0.21% | −0.20% | −0.22% |
| April 18 | −0.25% | −0.26% | −0.25% |
| April 25 | −0.22% | −0.13% | −0.30% |
April 2026’s weekly wholesale declines have remained above historical norms for spring, indicating the seasonal lift is being offset by other downward pressures.
Segment Winners and Losers
Segments That Gained Value in April
Full-size pickups: Up 0.32% week ending April 25, after a 0.47% gain the previous week. The only consistent positive trend across the month. Continued strength in Western Canada is driving demand.
Minivans: Up 0.52% week ending April 25. Family demand and limited new-vehicle supply continue to support this segment.
Sporty cars: Up 0.30% week ending April 25. A small segment but reliably stable as enthusiast demand persists.
Segments That Lost the Most Value
Full-size vans: Down 1.37% week ending April 25, with three consecutive weeks of declines exceeding 1.10%. Cumulative four-week loss of roughly $1,326 per unit.
Sub-compact cars: Down 1.11% week ending April 25, following 0.81% the previous week. The traditional affordability segment continues to lose ground as inventory ages out.
Compact cars: Down 0.86% week ending April 25. Buyer migration toward subcompact crossovers is hollowing out the compact car segment.
Full-size luxury crossovers and SUVs: Down 0.65% week ending April 25. Premium segments continue to face the most pressure as buyers consolidate down-market.
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Inventory and Supply: A Major Shift
The biggest market story in April was inventory rebuilding. After two years of constrained supply, used vehicle inventory is rebounding fast.
According to CARFAX Canada’s Q1 2026 Used Vehicle Market Insights report, total used vehicle listings in March were up 31.6% compared to February — and 3.1% compared to March 2025. This is the highest inventory level since August 2024.
The composition of that inventory is shifting toward SUVs:
- SUVs now make up 55.3% of used inventory (up from 51.1% YoY)
- Passenger cars dropped to 27.0% of listings (down from 30.6% YoY)
- Trucks remained roughly stable at approximately 17.7% of listings
For dealers, the inventory rebound has two immediate effects. First, sourcing pressure is easing — auction sale rates averaged 42.5% in late April, well below the elevated rates that defined 2023–2024. Second, retail competition is increasing. With more inventory available, days-on-lot is creeping up, and pricing power is shifting back toward buyers.
New Vehicle Pricing: First Decline in Five Years
One of the most significant data points of the month came from DesRosiers Automotive Consultants: average transaction prices for new light vehicles in Canada declined 0.6% in 2025 to $53,400. This is the first pullback after a run that saw new vehicle prices rise more than 30% between 2019 and 2024.
Andrew King, Managing Partner at DAC, attributed the decline partly to consumers pulling back from the BEV market in 2025, alongside fuller inventory levels and Canadian counter-tariffs that affected luxury segments.
The implications for the used market are direct. New vehicle price moderation reduces the upward pull on used vehicle prices that drove valuations between 2021 and 2024. As new vehicle pricing softens, used vehicle ceilings come down with them. This is consistent with the year-over-year used decline of 2.3% reported by CARFAX Canada.
Regional Highlights
British Columbia: Continues to be the only province with negative YoY pricing (−0.3%), and the first province where the average used truck price exceeded $50,000. BC dealers face a unique market characterized by accelerated EV depreciation, the loss of provincial rebates, and ZEV mandate recalibration. Read the full breakdown in our BC Regional Pulse report.
Alberta: Up 0.6% YoY at $37,591. Strong truck demand from oil-driven economic activity continues to support pickup pricing. Insurance costs remain a major buyer concern, with Alberta seeing a 17% YoY increase in auto insurance — the highest in Canada.
Quebec: Recorded a 1.7% decrease in new vehicle transaction prices in 2025, partly driven by softer BEV sales. Used vehicle market remains relatively stable, but EV depreciation pressure is similar to BC.
Ontario: Highest concentration of franchised dealer activity. Auto theft remains a major concern, with insurance surcharges of $500–$1,500 on high-theft vehicles like the Honda CR-V impacting buyer affordability.
Key Macro Drivers in April 2026
Trade uncertainty: 65% of British Columbia residents are concerned about the impact of US tariffs on used vehicle prices, according to a survey from Vancouver-based Autozen. Cross-border travel to the United States was down 35% this spring, per Clutch — Canadians are staying domestic, which is shifting demand toward Canadian inventory.
BEV demand recovery: Zero-emission vehicle sales rose 47.2% YoY in February 2026, reaching 10.2% of total sales following the launch of the federal EV Affordability Program. However, the program excludes Chinese-made vehicles and caps at $50,000.
Spring lift, but moderated: The Used Vehicle Retention Index increased 0.3 points in March to 132.5 — a typical spring seasonal pattern. But Daniel Ross, Senior Manager of Industry Insights at Canadian Black Book, characterized the lift as limited and noted “distinct inflection points” between segments, with mid- and full-size crossovers and pickups being the only categories with positive trends.
CUSMA review approaching: The CUSMA review begins in July. Three months from now, the trade framework underpinning Canadian auto economics will be under formal renegotiation. We covered the four scenarios in detail in our Policy Watch piece.
Frequently Asked Questions
What is the average used car price in Canada in May 2026?
The national average used vehicle listing price in Canada was $31,907 in March 2026, according to CARFAX Canada — up 0.5% month-over-month but down 2.3% year-over-year. April 2026 wholesale data from Canadian Black Book showed continued modest declines, suggesting the May average will likely sit slightly below the March figure on a wholesale basis but possibly stable on retail listings as spring demand absorbs inventory.
Are used car prices going up or down in Canada in 2026?
Used car prices in Canada are gradually declining in 2026. Wholesale prices fell every week of April 2026, with cumulative monthly losses of approximately 1.0%. Year-over-year, listing prices are down 2.3% (CARFAX Canada). The Canadian Black Book Used Vehicle Retention Index is down 5.3% YoY. Prices remain elevated compared to pre-pandemic levels but are trending downward as inventory rebuilds.
Which used vehicle segments are appreciating in Canada right now?
Three segments showed consistent positive movement in April 2026: full-size pickups (up 0.32% week ending April 25, with multiple weeks of gains), minivans (up 0.52%), and sporty cars (up 0.30%). All other major segments declined. Pickups remain the strongest performer due to limited new-vehicle supply, sustained Western Canadian demand, and structural utility-driven buying patterns.
What is happening with used EV prices in Canada?
Used EV prices continue to depreciate faster than other powertrain types. Premium models like the Porsche Taycan are down 23% YoY and the Ford F-150 Lightning is down 19% YoY. Used EVs nationally now average less than used hybrids ($40,251 vs. $42,393). The 2022–2023 leasing wave is producing an increasing supply of used EVs, with depreciation expected to continue through 2026.
How is inventory affecting the Canadian used vehicle market?
Used vehicle inventory in Canada rebuilt sharply in March 2026, climbing 31.6% month-over-month and 3.1% year-over-year — the highest level since August 2024. SUVs make up 55.3% of inventory (up from 51.1%). The increased supply is easing sourcing pressure for dealers but increasing retail competition, with auction sale rates averaging 42.5% in late April.
What does CUSMA mean for Canadian used vehicle dealers?
The CUSMA (Canada-United States-Mexico Agreement) review begins in July 2026. Three of four likely scenarios — extended negotiation, US withdrawal, or bilateral replacement — would create wholesale price volatility of 5–10% within a single quarter. The fourth scenario (full renewal) would maintain the status quo. Dealers preparing for July should tighten days-on-lot, maintain cash reserves, and track country-of-origin on inventory.
Where can dealers get accurate provincial market data in Canada?
Most national data tools (Manheim, Canadian Black Book, AutoTrader) provide aggregate Canadian averages, with limited provincial resolution and trim-level accuracy. Dealer-specific tools like TradeBasis pull real asking prices directly from dealer websites across Canadian provinces, enabling provincial filtering, trim-level decoding, and mileage-adjusted comparisons that aggregate sources don’t provide. Read more in our Dealer Playbook on the cost of inaccurate market data.
May 2026 Outlook
Three things to watch in May:
1. Whether the spring lift firms up or fades. March showed a modest seasonal positive in the Retention Index. April’s weekly wholesale data suggests that lift is being offset by broader downward pressure. May will tell us whether the spring market is genuinely strong or whether 2026’s seasonal pattern will be muted.
2. Inventory absorption. With supply up 31.6% from February, May’s question is whether retail demand can absorb the rebound without further price compression. If days-on-lot extends across May, expect further wholesale weakness in June.
3. Pre-CUSMA positioning. Sophisticated dealers will start adjusting inventory mix, cash reserves, and pricing logic in May ahead of the July review. The wholesale market typically moves in anticipation of macro events — watch for early indicators in late May segment data.
Stay ahead of every weekly market shift.
TradeBasis gives Canadian independent dealers real-time market intelligence — pulled from dealer websites across Canada, filtered to your province, decoded to your trim. No weekly lag, no national averages, no US data with FX adjustments.
Related Reading from TradeBasis
| Dealer Playbook | The Real Cost of Inaccurate Used Car Pricing — How bad market data costs BC and Alberta dealers $40,000+ a year, and what to do about it. |
| Dealer Playbook | The B.C. Dealer’s Spring Playbook — Five tactical moves for BC independents heading into the 2026 spring market. |
| Regional Pulse | B.C. Used Vehicle Market — Why Canada’s most expensive province is moving against the national trend. |
| Vehicle Intelligence | Honda CR-V in Canada: The Complete Dealer Intelligence Brief — Theft, recalls, hybrid premium, and trim-by-trim pricing for Canada’s #2 used vehicle. |
| Policy Watch | The CUSMA Review Is Three Months Away — Four scenarios and what each means for your business. |
Sources
Canadian Black Book — Weekly Market Insights Reports, April 2026 (weeks ending April 4, 11, 18, 25)
Canadian Black Book — Used Vehicle Retention Index, March 2026
CARFAX Canada — Q1 2026 Used Vehicle Market Insights Report (April 2026)
DesRosiers Automotive Consultants — 2025 Average Transaction Price Report (April 2026)
Canadian Auto Dealer — “Canadian used car prices dip as market softens” (April 30, 2026)
Canadian Auto Dealer — “Wholesale prices continue to soften in April” (April 2026)
Canadian Auto Dealer — “Used vehicle prices stabilize as inventory rebounds: CARFAX” (April 2026)
Canadian Auto Dealer — “Used-vehicle index edges up in March” (April 2026)
Canadian Auto Dealer — “Vehicle prices dip after years of growth” (May 2026)
Auto Remarketing Canada — “Full-size van values continue to tumble” (April 30, 2026)
Clutch — Used Car Pricing Report, February 2026 (regional pricing data)
Autozen — BC Tariff Concern Survey (April 2026)
TradeBasis — Canadian Market Intelligence for Independent Dealers (tradebasis.ca)
This article is produced by TradeBasis — Canadian market intelligence built for independent dealers. Real-time wholesale data, trim-level accuracy, cost-to-market calculations. Updated monthly with the latest Canadian Black Book and CARFAX Canada data. No enterprise pricing, no guesswork.