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Canadian Poncho Homepage -> Canadian Poncho -> The Lounge -> Graph of Used Car Decline in Sales in Ontario, B.C., and Alberta.
Post Info TOPIC: Graph of Used Car Decline in Sales in Ontario, B.C., and Alberta.
Greaser


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Graph of Used Car Decline in Sales in Ontario, B.C., and Alberta.
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Ontario - https://ycharts.com/indicators/ontario_used_car_dealers_retail_sales

BC -  https://ycharts.com/indicators/british_columbia_used_car_dealers_retail_sales#:~:text=Basic%20Info,22.17%25%20from%20one%20year%20ago.

Alberta -  https://ycharts.com/indicators/alberta_used_car_dealers_retail_sales#:~:text=Alberta%20Used%20Car%20Dealers%20Retail%20Sales%20is%20at%20a%20current,37.03%25%20from%20one%20year%20ago.



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cdnpont


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The the result of new vehicles coming back on line combined with used car high prices?

Basically, why buy used?



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Greaser


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cdnpont wrote:

The the result of new vehicles coming back on line combined with used car high prices?

Basically, why buy used?

 Don't think new car sales are doing any better....

https://canada.autonews.com/retail/2022-canadian-auto-sales-plunge

My guess is with high interest rates and everyone waiting to see what 

may occur with the impending "Recession" , no one wants to find out

it may be bad news while owning a car with payments to make, new or used.

-G



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4SPEED427


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cdnpont wrote:

 

Basically, why buy used?

 When we ordered our Canyon last June it sure didn't make sense to buy used. The same week we ordered at the dealership, they sold a used 2022 Colorado with 17,000 kms, less equipment than the truck we ordered and it had a few little body and paint issues. It sold for about $500 less than the Canyon we ordered. When I asked why someone would pay new vehicle price for a truck that was about 10 months old with miles on it? "Nobody wants to wait". 



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MC


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The graphs have retail sales in CAD on the Y-axis.  So the decline shown on the graphs could also be a function of used car prices falling in combination with declining sales numbers, as new cars becoming available lessen the demand for used.  Used pricing is very market driven and thus not a constant, so more data is needed to determine what is actually happening in the market.

If the graphs actually showed number of units sold, it would give us a better idea of how many people are buying. 

Also, traditionally car sales drop off in the winter, so that may be a factor as well.  Pre-pandemic data for comparison would help paint a more complete picture.



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unruhjonny


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I looked at the AB chart (gee, I wonder why) and it doesn't lok as bleak as the title of the thread suggests;
if the downward trend persists, then it would be bleak, but when you expand it to a 3 year chart, the last time sales were below where it currently is shown looks to be May 2020 - which was right around the time everyone stopped driving...
I did a quick glance at the ON & BC charts, and they show the same dip - spring/summer of 2020...



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