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 Canada’s largest automotive marketplace. The November 2019 autoTRADER.ca Price Index offers an overview of the current Canadian automotive market.
The median price of new vehicles has broken through the $40,000 barrier for the first time across Canada in 2019, reaching $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, increasing 7.4 per cent year-over-year.
Domestics Challenging Europeans for Top Pricing
European prices have declined from the previous month, while domestic brands have experienced a steady increase in recent months, largely due to trucks owning a larger market share. New Domestic vehicles are settling in at a median price of $50,341, just under the $50,440 new European vehicle price in November.
Asian manufactured vehicles continue their slow and steady climb, currently sitting at $31,665, a 2.2 per cent increase month-over-month, bringing the year-over-year increase to 1 per cent. Used European vehicle prices remain flat month-over-month at $23,500, while Domestic models have risen to $20,446, up 2.2 per cent compared to last month. This trend would need to continue for a few more months before we see the prices of used European models and Domestic models converge. Used Asian vehicle prices have also flattened month-over-month, ending November at $16,888.
Truck Prices Pick Up Steam
New sedans, trucks, and SUVs are all up month-over-month by 1.6, 1.4, and 1 per cent respectively. Our data suggests this is in large part due to manufacturers releasing their new 2020 models in Q4 as well as a change in the composition of the market. At the beginning of 2019, we saw a sedan to truck to SUV ratio of 34/25/41 on the marketplace. 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. Trucks are experiencing the greatest year-over-year increase at 4.2 per cent followed by sedans, which are up 2.9 per cent, and SUVs lagging behind with a 0.7 per cent increase. We are seeing similar trends on the used side of the equation with sedans and trucks up 3.4 per cent year-over-year, while SUVs are experiencing a more modest increase of 2.8 per cent.
Alberta vehicle prices are in recovery mode Across Canada, used vehicle prices have remained stable in November except for the Atlantic region and Quebec, which dropped 2.7 per cent and 0.7 per cent compared to last month. Meanwhile, in Alberta, new vehicle prices continue their recovery settling in at $47,427, up 1.6 per cent month-over-month.
Used vehicle prices in the province also continue to rise 4.1 per cent month-over-month. Will this rebound continue despite the depressed oil market? Stay tuned for the autoTRADER.ca December Price Index to see how this trend unfolds
These were the Top 5 Most Searched vehicles in November 2019 on autoTRADER.ca’s marketplace:
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Ford F-150
Median price new: $54,374
Median price used: $30,909
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BMW 3 Series
Median price new: $59,470
Median price used: $19,883
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Mercedes-Benz C-Class
Median price new: $61,352
Median price used: $28,495
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Honda Civic
Median price new: $30,848
Median price used: $9,999
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Ford Mustang
Median price new: $41,032
Median price used: $25,900
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Toyota RAV4
Median price new: $35,784
Median price used: $22,875
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Porsche 911
Median price new: $166,889
Median price used: $100,988
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BMW M
Median price new: $117,100
Median price used: $54,910
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Mercedes-Benz E-Class
Median price new: $87,238
Median price used: $28,900
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Honda CR-V
Median price new: $36,964
Median price used: $20,994
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 the latest autoTRADER.ca Price Index can be found here.
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