A survey conducted by "DesRosiers Automotive Consultants" reported that used car prices in Canada remained moderate during the first half of this year, but are still higher than the historical levels reached amid supply difficulties during the COVID-19 pandemic.

The survey conducted by DesRosiers among members of the "Used Car Dealers Association" revealed that the average sales results for the first half of 2023 reached 67 units for independent used car dealers, a performance similar to the same period last year.

At the same time, branches of used cars belonging to licensed new car dealers recorded an average of 155 sales, compared to 148 sales last year, thanks to the increase in trade-ins.

However, the expectations for used car sales for the entire year are an average of 305 units for new car dealers and 140 units for independent dealers. These figures are lower than the projections announced at the beginning of the year. 51% of independent dealers say that the supply issues they face have worsened.

Regarding used car prices, 34% of dealers reported a decrease in prices in the first half of the current year compared to the same period last year, while 44% of them indicated price increases, and less than a quarter said that prices were stable.

Andrew King, managing partner at DesRosiers, stated that the used car market experienced a sharp rise in prices alongside a steep decline in supply, from 2020 to 2022.

This rise began to slow down late last year and at the beginning of this year as the improvement in the supply of new cars began to partially alleviate the pressure resulting from the demand for used cars.