“This change in market dynamics has led to greater price increases for used vehicles than for new vehicles,” says Statistics Canada.
According to Germain Goyer, automotive content producer for the car guide, Quebec cars are also sometimes sent to our neighbors to the south.
American competition
“New vehicles are rare, so people keep their used cars. Traders also find it more profitable to sometimes sell them in the United States,” he says.
“Even vehicles that are over 15 years old sell for a lot of money, like Toyota Yaris or Honda Civic,” he continues.
“I sold a base 2009 Hyundai Accent, glass in hand, with 125,000 kilometers on the odometer, over $4,000 at auction. A year ago, it was worth $2,000 or $2,500,” shares Maxime Ménard, owner of Financez-vous.ca, in Beloeil.