Kijiji report shows average new car prices jumped 6.55% in May

Average new car prices have gone up 6.55% in Canada this past May, reaching $64,047 compared to the same time last year.

That is according to Kijiji’s Vehicle Trend Report: National Edition for May 2024, which found that the average listing price for a used vehicle was $37,797 — up 6.28% from May 2023. The report also found that 21% of users are engaging with the company’s Trade-in Tool.

The company created a snapshot of the average listing price for mass-market domestic, import, luxury and exotic and used vehicles. For mass market domestic, the average price of a new vehicle is $66,489 and $34,498 for used. In the luxury category, new is priced at an average of $88,107 and used is $44,342.

For mass-market import, new is $41,921 and used is $23,531, while for exotic only the average price of a used vehicle is provided: $230,871. 

The 10 most popular brands in the VDP email replies, URL clicks and clicks-to-call are Ford, Chevrolet, Toyota, Honda and GMC (up from last year). In sixth place is Ram (down), followed by BMW, Dodge, Nissan (up) and Jeep (down). 

As for the most popular models on the lot, Kijiji lists them as the Ford F-150, Honda Civic, Ram 1500, GMC Sierra 1500, Chevrolet Silverado 1500, Ram 2500 and the Ford F-350 (up this year). In eighth place is the BMW 3 Series (down), Toyota RAV4 (up), and the Ford F-250 (up).

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