Image: Honda Canada. The 2026 Honda Pilot — a segment where used wholesale values are still falling as fuel prices keep large-vehicle demand soft.
Canadian Black Book weekly data for the period ending May 9, 2026 shows truck and SUV wholesale values declining 0.37% week-over-week, with full-size vans down 2.50% — a drop of more than $800 per vehicle in a single week. At the same time, compact car and compact SUV wholesale prices have stabilized, with auction conversion rates holding steady near 48%. Auto Remarketing Canada / CBB
What it means: The used market is no longer one market — it’s two. Compact cars and compact SUVs (think Civic, HR-V, CR-V) are finding buyers at current prices because fuel efficiency matters more when gas prices are elevated. Full-size vehicles (Pilot, Odyssey, Ridgeline, Passport) face a double headwind: fuel costs compress demand from cost-conscious buyers, and tariff-driven uncertainty about new vehicle pricing makes buyers cautious about trading up. The result is a widening spread. A family holding a 2022 Odyssey waiting for trade-in values to recover before moving to a 2026 Pilot is operating on a thesis that isn’t supported by current wholesale data. The recovery, if it comes, will depend on fuel prices easing — a variable that hasn’t moved in the right direction since the Middle East conflict escalated.
My prediction: By November 2026, Honda Pilot and Odyssey wholesale values will be 4–6% lower than today’s levels, compounded by a “wait for the hybrid” demand drag as Honda’s confirmed V6 hybrid Pilot timeline becomes clearer. Buyers who know a hybrid Pilot is coming will delay purchasing the current V6, suppressing used demand for the existing model at exactly the moment trade-in supply is increasing.
If you're buying right now: If you own a Honda Pilot, Odyssey, or Ridgeline and are thinking about trading it in this year, the current data says sooner is better. The compact/truck price split in the wholesale market is not temporary — it’s structural as long as fuel prices stay elevated. Every additional month of waiting means a lower trade-in credit applied to whatever you buy next.
Wondering what your Honda trade-in is actually worth right now?
I can give you a real-world number based on what I’m seeing at auction — not an online estimate that ignores current market conditions. No obligation.