How much would it cost to buy a vehicle if you were in the market for one right now? This auto price report is updated monthly and offers a view of the Canadian automotive market by analyzing pricing data associated with over 400,000 new and used vehicle listings.
The national picture
According to the data, the overall median listing price of new vehicles saw a marked uptick in October, marking the the largest month-over-month increase of the year. The median new price of $39,851 represents a 3 per cent increase year-over-year and a 2.5 per cent increase month-over-month.
The used median price was $18,800 and this continues the trend of consistent used prices since the end of March. While the year-over-year increase is 10.6 per cent, data suggests that on a month-over-month basis, used prices have experienced a more modest 0.1 per cent increase. This time last year, prices were around $17,000, which was the lowest used median price observed in the last two years. This implies the year-over-year change is a result of unusually low prices in 2018 as opposed to an increase in prices last month.
The provincial picture
The map below displays the median listing price and percentage change year-over-year for new and used vehicles by region. Due to limited population size, the territories have been excluded, while Manitoba and Saskatchewan have been combined. Purple indicates new vehicles, while blue indicates used.
Manitoba & Saskatchewan
Average prices for new vehicles last month remain stable across Canada. This also holds true for prices in the Atlantic region, which saw the highest year-over-year increase last month and and had a median price of $36,157.
Of note is Quebec, where the median used price was $16,299. This continues a gradual decline that only began recently, which contrasts with the rest of Canada where used prices have remained stable.
The picture in search
Looking to see what other potential car buyers are searching for? These were the top 10 most searched vehicles in October 2019 on autoTrader.ca, along with their median listing prices. Click through the links to read Globe Drive’s review of the model, view listings in your area and find the the latest discounts, rebates and rates for your selected model through our build and price tool.