Canadians spent an average of $36,100 on new cars and $19,400 on used vehicles this year. More than double the number of used vehicles (40 million) were sold than new vehicles. Consumers often purchase pre-owned cars because they’re more affordable, but that doesn’t mean new vehicles are out of reach.
The 2019 Chevrolet Spark has a $9,995 MSRP (which doesn’t account for freight and delivery costs), making it the country’s most affordable new vehicle, reports MSN. It features a 7-inch touchscreen, four speakers, Bluetooth connectivity, two USB ports, Apple CarPlay and Android Auto integration. It also includes a 4G LTE Wi-Fi hotspot, but data charges apply.
The downsides are that the Spark doesn’t have a lot of power or a lot of cargo space. However, Motor Trend reviewed the 2016 Spark and was generally positive: “The bottom line is that the 2016 Chevrolet Spark is more than just a bottom-line car. It’s one of the more efficient cars on the road, and it handles like Chevrolet didn’t forget about performance.”
Canada’s most affordable new vehicle used to be the 2018 Nissan Micra, which cost $9,988, not including freight and delivery charges. However, its price rose $500 after Canada mandated on May 1, 2018, that all passenger vehicles sold in the country be fitted with a standard rearview camera. Most new cars and trucks were already equipped with this feature, but some models, such as the Micra, had it as an option.
The Micra’s base S trim used to have a simple audio system without a display screen or Bluetooth connectivity. Now that the rearview camera is required, all of the Micra trim levels include the same sound system—a 7-inch screen, Bluetooth connectivity, a USB port, and two speakers. The SV and SR trim packages have four speakers and wheel-mounted auxiliary controls.
The third most affordable new car in Canada is the 2018 Mitsubishi Mirage hatchback, which costs $10,998, not including freight and delivery charges. The vehicle’s audio system includes four speakers, a USB port, Bluetooth connectivity and wheel-mounted audio controls.
The price of new and used vehicles have been increasing regularly over the past few years. In the past five years, the average truck price increased by 2.4 percent at an average of $37,345, while the average passenger vehicle increased 0.9 percent to an average of $25,110.
Trucks and SUVs are pricier than passenger cars and the demand for them is increasing, which is one reason why new and used vehicles are becoming more expensive. Of course, you must also take inflation into consideration as well as dealerships’ need to meet quotas.
While most new vehicles cost a lot of money, there are some like the Chevy Spark, Nissan Micra and Mitsubishi Mirage that are affordable. But if you want a car with more bells and whistles, you may want to consider a preowned vehicle.