“Cars are hot” and trucks are not. That’s the message from one of the country’s foremost automotive analysts.
His statements are supported by J.D. Power data for the first six months of 2023. No newer data is available. The industry average days to turn is 39, up from 25 days from last year, but down from 56 days two years ago, Karwel said. The average transaction price of all new vehicles sold in Canada through the first six months was about $49,500, up about three per cent over the same period last year.“This is almost entirely a reaction to what the Bank of Canada has done to control inflation,” Karwel said. “Manufacturers have been absorbing some of that increase. They know what’s going to happen to payments. It’s not so much because of a drop-off in demand.
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