The October 2019 autoTRADER.ca Price Index once again offers an overview of the Canadian automotive marketplace. The Price Index provides up-to-date information on pricing shifts and trends through in-depth analysis of new and used vehicle pricing data from over 400,000 listings.
The median price for new vehicles in October 2019 was 3.0 percent higher than the previous year, and 2.5 percent higher than the month prior. According to in-depth pricing data, this is the largest month-over-month increase in 2019 as the median price of a new vehicle reached $39,851. New vehicle prices continue to trend upward, driven by new 2020 models hitting showroom floors.
Prices for used vehicles have experienced a more modest increase of only 0.1 percent month-over-month. The median price in October 2019 for used vehicle was $18,800, signifying a year-over-year increase of 10.6 percent. Median used vehicle prices were around $17,000 in October of 2018, which was the lowest price observed in the last two years. Rather than marking a sharp increase in used vehicle prices last month, this data identifies a steady adjustment in the market following unusually low prices in 2018.
For the first time over the last two years, the median price of a new truck has exceeded $54,000. Truck prices have grown relatively stable over 2019 and have set a new high
watermark. The median price of sedans and SUVs have started to buck the trend of declines over the past six months. Sedans currently sit at an average price of $27,363 (an increase of 1.2 percent month-over-month), while SUVs were being listed at an average of $37,093 (an increase of 1.5 percent month-over-month).
The median price of used sedans and trucks remained stable at $14,995 and $29,995 respectively in October. Meanwhile, SUVs have experienced a 1.7 percent increase month-over-month, leading to an average price of $22,380.
Within each region, average prices for new vehicles remain stable across Canada. This also holds true for average prices in the Atlantic region, which currently sits at $36,157, after seeing an increase early in the year. The median used vehicle price in Quebec is currently $16,299, which has continued the recent gradual decline, experiencing a month-over-month drop of 0.3 percent. This contrasts with the rest of Canada where used prices have remained stable.
These were the Top 10 Most Searched vehicles in October 2019 on the autoTRADER.ca marketplace:
1) Ford F-150
Median price new: $54,202
Median price used: $30,990
2) BMW 3-Series
Median price new: $59,367
Median price used: $19,777
3) Ford Mustang
Median price new: $40,763
Median price used: $25,789
4) Mercedes-Benz C-Class
Median price new: $60,28,887
Median price used: $28,887
5) Honda Civic
Median price new: $30,845
Median price used: $10,295
6) Porsche 911
Median price new: $166,500
Median price used: $99,000
7) BMW M
Median price new: $117,100
Median price used: $54,470
8) Toyota RAV4
Median price new: $35,719
Median price used: $22,499
9) Mercedes-Benz E-Class
Median price new: $87,473
Median price used: $28,900
10) Honda CR-V
Median price new: $36,749
Median price used: $20,995
Released monthly, the autoTRADER.ca Price Index provides a snapshot of the Canadian automotive market to bring a level of transparency to the vehicle buying process. Analyzing pricing data associated with over 400,000 listings. Tracking new and used vehicle pricing allows our data experts to identify how prices are trending nationally and provincially, along with the most searched models by consumers in the last month. The full results of this month’s autoTRADER.ca Price Index can be found here.
