Evidently, the transition towards a full EV market is the most significant one and has contributed to the overall increase in vehicle prices. Evidently, the transition towards a full EV market is the most significant one and has contributed to the overall increase in vehicle prices. Well, with the quality of production of our industry, there are simply fewer cars on the used market: vehicles are now staying on the road for around 13 years (all-time record for Canada). This generates upward pressure for the used prices and seems to naturally redirect consumers towards new vehicles. One thing is clear: the direction of the EV market will dictate a lot of what is perceived and understood about the overall automotive industry.

Source: CBC News October 04, 2023 04:00 UTC