ICYMI: Some new car options are no longer optional — via drivingdotca ShoppingAdvice
the average cost of a new car in Canada is currently “a record high of just below $62,000, representing a significant 17.4 per cent year-over-year increase.”Article content
Manufacturers are using scarce parts in the vehicles they make the most money on. When the average price is nearing $62,000 and the average price of a used vehicle is nearly $40,000, it’s easy to see why many consumers are watching a market pass them by.
When consumers spend years demanding pickups and SUVs and manufacturers abandon the smaller car market in droves, it leaves ashes for those who don’t want to buy and drive huge vehicles. We can play chicken and egg all day, but the fact remains theThis advertisement has not loaded yet, but your article continues below.
It’s hard to define a timeline for swelled inventories, but from DesRosiers, “14.4 per cent of dealers were quite optimistic and cited that they expect significant improvement throughout the first half of 2023,” and 36.8 per cent anticipate it will be the last half of 2023. However, “the largest portion of dealers – at 48.8 per cent – indicated that they expect significant improvement to come later, in the following year.
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