Looking to purchase a car this year? Well, you might want to reconsider your budget…
A recent report made by AutoHebdo, a vehicle sales platform, analyzed data that revealed the price of used vehicles in Quebec had increased by 35.4% compared to the previous year. As for new vehicles, prices have increased by 12.9% in Quebec.
Despite the used car average in Quebec being the lowest compared to other provinces, this is a huge jump that has happened in such a short amount of time.
According to CTV News, “The analysis shows that demand for vehicles has been very strong since the start of the pandemic, in part because many respondents to an AutoHebdo survey reported a decline in interest in public transportation and a willingness to switch to auto transportation to reduce the risk of catching COVID-19.”
Will this new information change your mind about purchasing a new vehicle, if you are in the position to do so?