The first autoTRADER.ca Price Index for 2020 once again offers an overview of the Canadian automotive marketplace. The Price Index documents pricing shifts and trends through in-depth analysis of new and used vehicle pricing data from over 400,000 listings across the country.
New Vehicles
In January 2020, the median price of new vehicles across all segments was $40,055. Marking the fourth consecutive month of price growth, the sedan segment is up 6 percent year-over-year with a median price of $28,328. For the second consecutive month, the median price of new SUVs declined year-over-year, with January's average of $37,500, a 2.1 percent decrease compared to a year ago. As for new trucks, the median price is $55,203, which has remained very stable throughout the last year.
Regional Differences
In December, we continued to see the price of new domestic vehicles grow as we entered 2020, with the average price registering at $50,980. This contrasts with European vehicles price points that have been relatively flat month-over-month. Regionally, we’ve seen the provinces of British Columbia and Quebec stand out, experiencing consistent growth since the autumn of 2019.
Previously Owned
In the used vehicle market, the current median price is $18,990 with relatively little change in the second half of 2019. Since July 2019, the median price of used sedans and trucks have been very stable. Manitoba and Saskatchewan continued to see the highest average used vehicle price in Canada, a trend that’s been consistent since the beginning of last year. Finally, average used vehicle prices in Alberta were flat in December after significant price declines in early 2019. This is hopefully a sign that economic challenges from the energy sector are stabilizing.
These were the Top 5 Most Searched vehicles during the first month of 2020 on autoTRADER.ca’s marketplace:
- Ford F-150
Median price new: $55,473
Median price used: $29,998
- BMW 3-Series
Median price new: $58,900
Median price used: $19,507
- Mercedes-Benz C-Class
Median price new: $63,741
Median price used: $28,900
- Ford Mustang
Median price new: $44,307
Median price used: $26,999
- Honda Civic
Median price new: $31,220
Median price used: $9,987
- Porsche 911
Median price new: $167,775
Median price used: $114,900
- Mercedes-Benz E-Class
Median price new: $87,347
Median price used: $28,995
- BMW M
Median price new: $114,289
Median price used: $55,480
- Toyota RAV4
Median price new: $35,762
Median price used: $22,995
- Honda CR-V
Median price new: $37,790
Median price used: $20,964
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 from autoTRADER.ca’s marketplace of 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.
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