autoTRADER.ca Releases Price Index for Ontario
autoTRADER.ca shows June 2019 highlights.
autoTRADER.ca shared its Price Index for used vehicles prices in Ontario. The index is used to keep track of pricing shifts and trends within the Canadian automotive market.
Used vehicle prices seem to have risen 8% in June, especially concerning the SUV and sedan segment, which showed an 8.6% and 7% increase respectively in median prices. Due to this increase, the median price of a new vehicle in Ontario was affected as well and has risen by 3.5% compared to June 2018.
Regionally, Manitoba saw an increase across new and used vehicles in year-over-year median pricing by 7.8%. Saskatchewan has a similar increase of 8.2%. This increase is due primarily to the price of trucks, with new trucks rising by 2.7% and overall truck inventory growing 15.9%. With the rise in the median price of sedans (8.5%) and SUVs (6.5%), use vehicles prices jumped up as well.
These past few months, prices have been levelling off after overall prices of vehicles were up year-over-year for new vehicles (4%) and used vehicles (5.1%). This is seen with the drop of the national median new car price in Canada by $830 in June compared to March 2019, and the median used car price in Canada, which is $88 below the high watermark set last month ($18,988).
The topmost searched vehicles in the country for June were:
- Ford Mustang;
- BMW 3-Series;
- Ford F-150;
- Mercedes-Benz C-Class;
- Honda Civic.