Top 10 Automotive Stories of 2023
New Vehicle Prices Keep Exploding
Inflation is wreaking havoc across the auto industry, but AutoTrader’s June 2023 price index report still came as a shock: the average new vehicle in Canada now costs a whopping $66,288. It’s a massive year-over-year increase of 21.3 percent.
Back in late 2019, before the pandemic and everything, the average price stood at $40,490, so that represents an increase of 68.6 percent in less than four years. Yikes.