Average price of new car in Canada now exceeds $40,000

The average selling price of a new light vehicle in Canada now exceeds $40,000, according to DesRosiers Automotive Consultants.

The data company found that at the end of 2019, the average light vehicle sold for $40,941. In 2015, the average price of a passenger vehicle was $34,794.

DesRosiers says the increase has been driven primarily by the growing consumer preference for light trucks which, with an average selling price of $43,565, are significantly more expensive than passenger cars ($33,090).

Alberta noted the most expensive light vehicles sold on average for 2019 at $45,170 with the most expensive light trucks at $46,920 and the second most expensive passenger cars at $34,586. By contrast, Nova Scotia noted an average new vehicle price of $37,025 with an average passenger car price of $28,291 and a light truck price at $40,400.