Used vehicle prices are continuing to fall in Canada, but not all models are following the same trend.
The latest CarGurus Used Car Price Index shows average listing prices stood at $33,232 as of Oct. 20, down 0.79 per cent over the previous 30 days and 1.68 per cent year over year.
Pickup trucks recorded one of the largest declines among vehicle categories, falling 1.12 per cent over the past month to an average of $46,039. SUVs and crossovers experienced a smaller decrease of 0.19 per cent, bringing their average listing price to $32,348.
Some luxury brands experienced sharper declines. Land Rover prices fell 4.04 per cent, followed by Lincoln at 3.87 per cent and INFINITI at 3.54 per cent.
However, September sales data from CarGurus reveals a different picture for certain popular models. While eight of the platform’s 10 best-selling used vehicles recorded year-over-year price declines, the Ford F-150 and Toyota RAV4 bucked the trend. Average listing prices increased 4.1 per cent to $44,438 for the F-150 and 1.2 per cent to $30,409 for the RAV4.
The Ford Escape recorded the largest decline among the top sellers, falling 9.3 per cent to $18,432.
“The big news here for shoppers is that average listing prices are lower than they were a year ago for eight of these 10 models, highlighted by Ford’s now discontinued Escape seeing the largest decline at 9.3 per cent,” said David Undercoffler, Head of Consumer Insights at CarGurus, commenting on September’s results.
Meanwhile, smaller, fuel-efficient vehicles dominated September’s fastest-moving rankings. The Honda Civic led at 34.3 days, followed by the Subaru Crosstrek at 35.2 days and Toyota Corolla at 36.5 days.
The figures highlight an uneven used vehicle market, with pricing trends and turnover varying across segments and models.
