Let it Mellow: Yellow cars depreciate slower than other hues, says car colour study
Toronto, Ontario — When life gives you lemons, keep hold of them; they might still hold a pretty significant chunk of their original value after three years. According to a colour study by iSeeCars, yellow vehicles depreciate by approx. 13.5 percent—or US$3,000, on average—after three years. For comparison, iSeeCars states that the typical car loses […]
Pumped Pricing: Higher taxes for used cars this year, British Columbia
Victoria, British Columbia – Budget reforms in British Columbia may impact the used vehicle market sooner than expected, according to a disgruntled official opposition critic. Starting Oct. 1, private vehicle sales will be taxed based on the vehicle’s reported purchase price and the average wholesale value. This tax will apply to the greater of the […]
Faux Lambo: Southern Ont. car dealer posts Lambo-wrapped Toyota 86 for sale
Toronto, Ontario — Let us reflect on youth; the days when we would be sent off to school and assured by our parents that our knockoff “red-swinging-bug-man” backpack was “just as good” as Spider-Man, and that the other kids wouldn’t even notice. They always notice. Same goes for when you’re trying to sell off your […]
Used Car Commotion: Price of used cars in Canada has increased by 12.8 percent, amid microchip woes
Toronto, Ontario — Amid the global microchip shortage, the price of used vehicles in Canada is continuing to climb. New data from AutoTrader.ca shows the average price of used automobiles has risen by 12.8 percent last month. The online used vehicle marketplace says in July 2021, the average price of a used car on its […]
Used and Ready to Cruise: CarGurus announced this year’s Best Used Car Awards
Toronto, Ontario — CarGurus today announced the winners of its annual Best Used Car Awards. The 2021 awards identify the best recent-year used models across 10 body-style categories: long-term projected value retention, driver satisfaction, user reviews, expert evaluation, popularity and availability. “CarGurus’ Best Used Car Awards have become an industry mainstay for the last five […]
The Long and Short of It: Canadian car speculations loom as U.S. inventory dips 50 percent below average levels
Washington, D.C. — U.S. vehicle inventory is down 50 percent, leading to some used cars selling for more than what they sold for when they were brand new. This raises questions on if Canada’s automotive industry will be in the same predicament later this year. Although new car inventory is down only 20 percent in […]
Canadian Cars Wanted: More Canadian used vehicles going to U.S. amid shortages
Toronto, Ontario — Since early April, U.S. car dealers have been buying used cars from Canada to combat microchip shortages. However, over the last few months, the U.S. has been gobbling up even more of Canada’s inventory, according to new data from J.D. Power and ALS. “Everything seems to be in high demand,” Jonathan Banks, […]
You’ve Got Mail: Canada Drives launches online car shopping and delivery platform
Toronto, Ontario — Canada Drives, Canadas largest 100 percent online car shopping and to-your-door delivery platform announced it’s national launch today. Canadians in BC and Ontario can now browse, purchase and have a used car delivered right to their doorstep – they might even expect same day delivery. Founded in 2010, Canada Drives has helped […]
Out of Stock: Used car wholesalers struggle with demand for pickups, crossovers
Toronto, Ontario — They aren’t grizzlies, but reports are indicating that Canadian used car showrooms are looking pretty bare these days as the wholesale market struggles to keep up with increasing demand for used pickups and crossovers. According to industry leaders in the used auto wholesale market, the onset of the COVID-19 pandemic brought on […]
