Average vehicle transaction prices drop in 2012
DesRosiers Automotive Consultants says analysis of recent Statistics Canada data shows a slight erosion of average transaction prices at the national level in 2012.
Vehicle transaction prices are influenced by a number of variables including both the competitive pricing environment of the automotive market, and the changing segment shifts and model preferences of consumers, DesRosiers writes.
Average transaction prices stayed relatively neutral among passenger cars in 2012. The average cost of a new car in 2012 was $26,755, an increase of 0.4 per cent over 2011.
New passenger cars manufactured in North America traded at an average value 1.0 per cent below that observed in 2011, while transaction prices of those manufactured in Japan grew by 4.1 per cent.
“As greater proportions of mainstream Japanese-branded vehicle manufacturing move onshore every year, the remaining Japanese imports are increasingly luxury-segmented vehicles sold at higher price points,” he added.
Prices of passenger cars imported from other production locations (Europe and Korea) increased 2.4 per cent to $35,312. New trucks (including all segments, from minivans to heavy duty) charted an average transaction value of $38,182 in 2012, down 0.6 per cent from 2011.
Trucks manufactured in North America declined in price by an average of 0.9 per cent while those imported from overseas production locations increased by an average of 0.9 per cent.
