February 21, 2006

Average Canadian vehicle prices up in 2005

Richmond Hill, Ontario – A report by Statistics Canada shows that the average transaction price of a passenger car increased by 0.5 per cent to $25,108 in 2005, while the average truck increased 3.2 per cent to $39,858. The average transaction price of a vehicle increased 2.2 per cent to $32,210.

Industry analyst Dennis DesRosiers says that Statistics Canada does not separate medium- and heavy-duty trucks from light trucks, so the average truck price is higher than what the light vehicle market would normally be, and therefore the average price for all vehicles in Canada is inflated by about a thousand dollars.

In 1990, the earliest year shown on Statistics Canada’s chart, the average passenger car was $17,235, the average truck $22,255, and the average vehicle price in Canada $18,886. Since 1990, prices have risen each year except for price drops in passenger cars in 1991, 2001 and 2004, and price drops in trucks in 1991, 2000 and 2001.

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