How much would it cost to buy a vehicle if you were in the market for one right now? This auto price report will be 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 July 2019 has grown by 3.5 per cent year-over-year. While prices are up, there has been a levelling off over the past several months. The median new car price in Canada is down $827 in July compared to the high reached in March of this year, while the median used car price in Canada is $189 below the high that was set in May 2019.
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
From a provincial standpoint, Manitoba and Saskatchewan saw the highest year-over-year median pricing increase for new vehicles in July 2019. That increase was largely due an increase in the price of new sedans (6.7 per cent) and trucks (2.7 per cent), while SUV prices remained steady.. The growth for used vehicles was largely driven by a rise in the median price of both sedans and SUVs.
In Ontario, the median price of a used vehicle increased by 10.3 per cent, making it the second-highest increase in the country for the month. This was largely driven by increase in prices for SUVs and sedans as well.
The picture in search
Looking to see what other potential car buyers are searching for? These were the top 10 most searched vehicles in July 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.