CANADA USED AUTOMARKET GATHERS STRENGTH AS COVID-19 EBBS
June 1st, 2021
As Canada’s auto market emerges from its Covid-19-inspired slump, new vehicle sales are competing against increased demand for used vehicles, as inventories remain tight and prices rise across the board.
Canadian used vehicle prices have tracked upwards steadily in the past 10 years, according to data from JD Power (1), inching towards 110% of 1998 levels by early last year. But Covid-19 has shaken up that market, which has boomed in recent months - now approaching 120% of 1998 pricing. Used car data service CarGurus notes that Canada-wide, average used ...
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