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 as of August 2019 has grown by 3.4 per cent year-over-year. While new prices are fairly level, used vehicle prices have seen a marked increase at 8.8 per cent year-over-year. Both figures outpace the Bank of Canada’s targeted annual inflation rate of 2 per cent.
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
In August 2019, all regions across the country experienced a year-over-year increase in both new and used vehicle pricing. This is the first time this year that all regions experienced year-over-year growth in both new and used prices.
In Manitoba and Saskatchewan, a jump in both new and used sedan prices led the charge. Prices in Manitoba and Saskatchewan were at their lowest point over the summer months of 2018, which caused the large jump in year-over-year prices. In Ontario, new and used prices for trucks, sedans and SUVs are up year-over-year, but month-to-month all three segments saw slight declines. In Quebec, a jump in used sedan prices has contributed the most to an increase in used prices in the province.
The picture in search
Looking to see what other potential car buyers are searching for? These were the top 10 most searched vehicles in August 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.