A new update from online used car retailer Clutch shows used vehicle prices in Canada are starting to rise again, up 0.22 per cent month-over-month and 0.54 per cent year-over-year.
That is according to the company’s April 2025 Used Car Pricing Report. They said the increase marks the first annual rise since 2023, signalling a shift in buyer behaviour during a period of ongoing supply constraints, rising new vehicle costs, and growing tariff uncertainty.
“While the pace of growth remains gradual, it reinforces a broader trend: prices are beginning to climb again,” said Clutch in its report. “After a year of steady cooling, the market is showing signs of stabilization as ongoing supply constraints, tariff concerns, and the rising cost of new vehicles continue to influence buyer behaviour.”
The company broke down what’s happening across Canada: nationally, provincially, and even at the model level. It found the national average price for a used vehicle has reached $33,082, “the highest it’s been since late 2023.”
SUVs make up nearly 60 per cent of all used vehicle sales (up from 56 per cent a year ago), which is helping to push prices higher. It is also speeding up the decline of sedans and hatchbacks. Truck prices jumped 2.7 per cent YoY, thanks in part to a demand for electrified trucks like the F-150 Lightning and Tundra Hybrid. British Columbia is enjoying the biggest gains of truck price increases.
“There’s also growing demand for electrified vehicles, with hybrids and EVs increasing their share of the market from 7.4 per cent to 9.7 per cent YoY,” said Clutch. “Both categories typically command higher prices than gasoline-powered sedans and hatchbacks, shifting the overall price mix higher.”
Tesla Model 3 sales jumped 26 per cent, though prices dropped 11 per cent YoY so that the vehicle is well within reach of buyers. However, Clutch did note that electric vehicle prices remain volatile, up 0.9% MoM but still down 3.9% YoY. They say this reflects an aging inventory and shifting incentives in provinces like Quebec.
Overall, whether consumers are shopping for a car, SUV, or truck, Quebec and Atlantic Canada still offer the most budget-friendly used vehicle options under the $15,000, $20,000, and $30,000 thresholds.
