Canadians looking to buy a new vehicle should brace themselves for higher prices, as it’s more expensive than ever to buy one., the average new vehicle price reached a record high of $66,288, a 21 per cent increase compared to the same month last year. The cost of purchasing a used vehicle is also up, jumping 4.1 per cent compared to June of last year, with the average price coming in at $39,645.
“Things are looking better, but compared to where inventory levels were in 2019 and the beginning of 2020, there’s still quite a bit of catching up to do,” Akyurek said in an interview with“While more inventory is coming onto the market, whenever there are cars they are being gobbled up, because there’s still quite a bit of pent-up demand. Until supply catches up with demand, we’ll probably keep seeing prices on the higher side.
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