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 broke through the $40,000 barrier for the first time across Canada in 2019, settling at $40,490. This accounts for a 1.5 per cent increase month-over-month and a 2.3 per cent increase year-over-year. Meanwhile, used vehicle prices remain stable month-over-month at $18,888, and have increased 7.4 per cent year-over-year.
New sedans, trucks, and SUVs are all up month-over-month, which is in large part due to manufacturers releasing their new 2020 models in the fourth quarter as well as a change in the composition of the market. At the beginning of 2019, the sedan to truck to SUV ratio in the marketplace was 34/25/41. As of November 2019, this ratio has adjusted to 30/31/39, an indication that Canadian appetite for sedans is waning compared to the truck category.
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
Every region tracked across Canada saw increases in average prices for new vehicles, with a notable 7.3 year-over-year increase in prices in the Atlantic region.
Of note is Alberta, where new and used prices have continued to gradually rise despite souring economic outlook 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 last month 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.