Dealers may be interested in reviewing J.D. Power’s latest data-filled report on Canadian automotive market metrics for February, which reveals some small changes from the previous report.
It shows the percent of total transactions over the past 12 months for new vehicles was divided as: 23 per cent cash, 27 per cent lease, and 50 per cent loans. For Used vehicles, the division resulted in an even split between cash and loans (both 49 per cent), and 2 per cent for leases.
In terms of monthly payments, on average per customer new leases reached just over $760 in February, while new loans hovered just under $880. The latter is similar to figures from a year ago, while new leases are well above February 2024 — but lower than the prior month. The new vehicle loan term for 84 months and greater was 57 per cent in February, similar to a year ago and more than January 2025.
On days to turn, new vehicles reached above 60 days, more than the 50 from February 2024 and similar to the prior month. Used vehicles reached just above 80 days, less than the same period a year earlier and more than in January 2024.
J.D. Power also looked at the new vehicle price compared to the customer facing price. Pulling data from its PIN Incentive Spending Report, it found the new vehicle price had dipped to $48,000 from slightly above that figure in January, and from $49,000 in February 2024. The transaction price was around $45,000 in February, a little less than the prior month and less than the around $45,500 from a year ago.
As for the percent of negative equity vehicles at trade-in (new), negative equity hovered just over 20 per cent and trade-in slightly under 45 per cent. Both are similar to January and slightly higher than a year ago.
