Sunday, October 2, 2022
News The Average Used Vehicle Price Rose to $33,240 in Canada Last Year

The Average Used Vehicle Price Rose to $33,240 in Canada Last Year

The pandemic and all related supply shortages are hurting Canadian pocketbooks


  • The average selling price for a used car is 34.5% higher than it was in 2020. The $33,240 amount is an all-time high.

  • The average new vehicle sold for a whopping $50,758 last year.


The numbers are staggering, frightening even. If you purchased a new or pre-owned vehicle in Canada last year, there’s a strong chance you paid a historically high amount, on average, for your new set of wheels.

The average pre-owned vehicle sold for $33,240 in 2021, or a 34.5% increase year-over-year from 2020. Meanwhile, new car buyers spent $50,758 on average. The latter amount represents the first time in history that new car prices have soared over the $50,000 mark and is a 12.7% increase over the 2020 numbers.

These eye-watering numbers are the result of many factors according to La Presse. Public transit fell out a favour for many Canadians meaning that acquiring a personal vehicle became necessary. Another is that limited traveling, be it for work or leisure, as well as eating out, has enabled many Canadians to save money. This extra pocket money enabled buyers to spend more than they likely would have prior to the pandemic.

The exacerbated demand for both new and used vehicles is also the direct result of the global parts shortage, including microchips, which drastically lowered inventories. Based on many experts, the situation will drag on through 2022 and hopefully improve in 2023.

Trending Now

The Tesla Cybertruck Will Float if Temporarily

The Cybertruck still hasn’t hit production yet. Musk claims that it can serve as a boat to cross rivers. The man’s a genius. For...

The 2023 Nissan Ariya will Begin at $43,190 in the U.S.

The brand’s first electric crossover will be offered in six trim levels. The dual-motor AWD system will be optional. The longest-range version will...

The New Lamborghini Urus S Gets 666hp

This Urus needs only 3.5 seconds to reach 100km/h from a standstill. The engine tune is borrowed from the Urus Performante. Ultimate super SUV...

The Jeep Wrangler Soldiers on Without the EcoDiesel Engine From Next Year

A final Farout Edition will close order books on the 3.0L diesel engine. The EcoDiesel will no longer be offered with the Ram...

BMW Unveils the XM, the Most Powerful Vehicle in its History

The following vehicle leaves the factory with a plug-in hybrid powertrain, but let's just say that its primary mission is to deliver a good...
Matt St-Pierre
Trained as an Automotive Technician, Matt has two decades of automotive journalism under his belt. He’s done TV, radio, print and this thing called the internet. He’s an avid collector of many 4-wheeled things, all of them under 1,500 kg, holds a recently expired racing license and is a father of two. Life is beautiful. Send Matt an emai

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.