Richmond Hill, Ontario – The average new passenger car in Canada cost $25,304 in 2007, while the average truck was $38,582, according to a report released by industry analyst Dennis DesRosiers. The figures are taken from data provided by Statistics Canada.The average price of a passenger car dropped by 1.0 per cent in 2007 compared to 2006, while truck prices dropped by 4.0 per cent. “The large drop in truck average price was primarily due to a huge drop in medium/heavy-duty truck sales in Canada, which lowered their weighting in the data,” DesRosiers said, “but even if you ‘eyeball’ these out, there would still be a drop in light truck prices in 2007; we just can’t formally quantify the amount.”

DesRosiers also said that the average weeks of before-tax family income needed to purchase a new vehicle in Canada dropped to 18.9 weeks, its lowest level since 1991. “These stats dispel the notion that somehow the OEMs have taken advantage of the consumer relative to changes in exchange rates,” DesRosiers said. “Yes, many vehicles on a pure exchange rate basis have become a little higher priced in Canada than in the U.S., but the OEMs have responded and lowered price, and with all the lower MSRP prices announced this year already, and the heavy discounting in the market that has been in place for a number of years, the consumer is winning and winning big.”

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