- Average new-car price increased by 2.3% over the last year
- Highest new-car prices are located in Alberta, Manitoba and Saskatchewan
- Lowest new-car prices are located in Quebec and Atlantic Provinces
The average new-car price in Canada, which rounds up cars, SUVs and trucks, has topped the $40,000 mark in 2019, according to a recent study compiled by autoTRADER. That represents an increase of 2.3% year over year on a nationwide scale.
We say median instead of average new-car price, because the study doesn’t take count of abnormally low or high prices, resulting in more representative figures for the Canadian market. While the median new-vehicle price of $40,490 rounds up all types of vehicles, cars are the most affordable with a median price of $27,818, an increase of 2.9% compared to the same period last year.
New SUVs have a median price of $37,485, up by only 0.7% compared to last year. Unsurprisingly, the costliest new vehicles on the market are trucks with a median price of $54,999, with a year-over-year hike of 4.2%.
The study breaks up the numbers by brand origin. North-American manufacturers have a new-vehicle median price of $50,341 (up 4.0%) because of their array of big and well-equipped SUVs and pickup trucks. The European manufacturers’ new vehicles are barely more expensive with a median price of $50,440 (up 0.3%). Meanwhile, Asian manufacturers are selling their new vehicles at a median price of $31,665 (up 1.1%), as most of them still offer a wide selection of affordable cars and small SUVs.
We also have a snapshot at what the average new-car price is by region. Alberta is the province that has been buying the costliest new vehicles this year, while Quebec consumers are the ones who are investing the least on their new cars, SUVs and trucks. Here’s the breakdown:
Alberta: $47,427 (up 1.9% compared to the same period last year)
Manitoba and Saskatchewan: $45,743 (up 3.0%)
British Columbia: $41,975 (up 1.2%)
Ontario: $38,675 (up 4.0%)
Atlantic Provinces: $36,290 (up 7.3%)
Quebec: $34,060 (up 0.2%)
According to the autoTRADER study, the most research vehicles across Canada were the Ford F-150 in first place, the BMW 3 Series in second place and the Mercedes-Benz C-Class in third place. The Top 10 list is rounded out with the Honda Civic, Ford Mustang, Toyota RAV4, Porsche 911, BMW M cars and SUVs, Mercedes-Benz E-Class and Honda CR-V.
Lastly, in the beginning of 2019, cars represented 34% of the overall new-vehicle market in Canada, while SUVs counted for 41% and trucks totalled 25%. In November 2019, the proportion of truck sales had climbed to 31%, while cars dropped to 30% and SUVs slid to 39%.
To establish the average new car price study, autoTRADER compiled pricing of more than 400,000 vehicles on its website, between October 2018 and November 2019.