In August, Canada’s used-vehicle market climbed to its highest point since 2023: the national average selling price hit $33,986 (+1.11% MoM, +7.78% YoY). The broader backdrop helps explain the climb. Consumers remain payment-sensitive amid an uncertain Bank of Canada rate path, rebates on new EVs have dried up, and several automakers have flagged higher MSRPs for 2026 model years due to tariffs and production costs. On the supply side, the 2020-2023 model-year cohort is thin after pandemic production cuts, while a growing share of newer, higher-priced 2024-2025 vehicles is entering the used mix.
What’s lifting prices isn’t a blanket price markup so much as market composition. Two things are happening at once: (1) Canadians are buying more SUVs and more electrified vehicles (EVs and hybrids), both of which skew higher than the all-market average; and (2) truly entry-level listings–sub-$15k cars and sub-$20k SUVs–continue to recede. Even when a few popular models go down in price month to month, the basket is tilting toward larger, newer, and better-equipped vehicles, which nudges the average higher.
A quick word on the math behind the headline: average selling price (ASP) is a sales-weighted figure. It moves for two reasons. First, sales mix: if higher-priced segments or models take a larger share of sales, the ASP rises even if those vehicles didn’t get more expensive. Second, within-model pricing: individual segments or models rising or falling in price. Trends in sales mix and pricing both play a hand in how the ASP changes over time.
Here’s the provincial picture in plain terms. The West sits higher, Central Canada splits, and the East remains lower; the differences are largely about what people are buying, although vehicle condition also plays a role. Markets with a heavier tilt to gasoline pickups and EVs–especially larger, more premium models–post the higher average prices. Regions where cars and compact SUVs carry more of the load tend to run lower.
Out West, pricing stays elevated because the mix leans hard into trucks. When heavy-duty pickups take a larger share, the provincial average rises even if individual truck prices don’t move much. SUVs continue to absorb volume, but value-oriented compact crossovers keep that segment from getting too expensive. Meanwhile, electrified vehicles are growing off a smaller base and don’t yet offset the truck effect.
In Central Canada, Ontario’s average remains supported by trucks and mid-size SUVs; the counterbalance is a deep market of compact SUVs that widens selection at lower price points, tempering month-to-month swings. Québec sits lower on level but has been climbing faster year over year as its basket reweights away from cars and toward trucks and higher-priced electrified crossovers. Notably, the majority of these premium EV models show heavy price drops even as their share of sales increases; the net effect nudges the provincial average upward because the mix shifts to costlier models.
Across the Atlantic provinces, lower prices persist because the mix is more gas-sedan and compact-SUV heavy, with fewer large trucks in the blend. Monthly moves often track the availability of sub-$20k crossovers: when those are plentiful, average prices stabilize; when they thin out and pickups take a bigger slice, averages rise. Electrified share is growing but remains too small to move provincial totals meaningfully in these provinces.
Stepping back, the map aligns with the national story: truck-heavy regions anchor the top of the table, compact-SUV concentration keeps big markets from overheating, and provinces adding trucks and premium electrified vehicles climb the quickest–even when model-level prices are flat–because composition is doing most of the work. All-in-all, more expensive models continue to grow in popularity nationwide, pulling the prices up across the board.
Last August marked the low of 2024; this August set the year’s high. That’s a full year of rising prices, a familiar story from the not-too-distant used-car inflation that emerged in 2020. However, this time around, the mechanics are different from the pandemic wave of inflation. Back then, we saw all used vehicle models shoot up in price due to new vehicle production being put on pause. Now, the lift comes from what’s selling: a heavier blend of SUVs and electrified models, plus a bigger slice of late-model 2024-2025 inventory.
You can see it in the curve’s shape. As pandemic-era inflation tapered in early 2024, the mix of available vehicles started to shift toward pricier models. Through 2024, SUVs, hybrids, and EVs all saw their share of the market grow, which moved the average selling price higher. Not what you’d expect if you only watched sticker prices on a model-by-model basis–the market composition is doing more of the work than pricing markups.
There’s also a quiet supply story underneath. Fewer 2020-2023 vehicles are cycling through–an echo of pandemic production cuts–so shoppers are meeting a pricier basket by default. Newer, better-equipped units naturally carry higher transaction prices; as they represent a larger share, the line climbs even when like-for-like prices don’t.
The next sections unpack how this plays out by province, body style, and fuel type. At a high level, think of August as a continuation of this market composition trend: the market leaned into SUVs and electrified options while older, cheaper nameplates receded. The result is a higher national average driven less by across-the-board price hikes and more by the kinds of vehicles Canadians are actually buying.
August’s body-style picture comes into focus quickly: cars clawed back share month over month, yet SUVs still show the biggest share gain versus last year. Prices rose across all three segments month over month and year over year. What’s doing the lifting isn’t broad markups so much as composition: larger and more premium models are taking more of the pie. As mentioned previously, price change can be affected by two things: the share of sales–“mix”–and the prices of the models themselves. When higher-priced vehicles take a bigger share, the segment average rises even if individual model prices don’t move; conversely, if the mix holds steady but popular models transact higher, the average also increases. In August, the mix effect did most of the work; like-for-like prices were roughly flat to slightly softer.
SUVs
Share remains above 60% nationally (+2.4 pp YoY) and the average price rose +$513 MoM to $33,287; the month’s lift was mix-led (composition +$672) while within-model prices edged down (-$159). YoY, SUVs are +$1,692, split mix +$1,202 and within +$490. Practically, we saw more up-market SUVs and a little less weight in value compacts.
- Mix (up): +$1,202 YoY. Examples: Volkswagen Tiguan, Ford Bronco, Tesla Model Y gained share and lifted the segment average.
- Within-model pricing (up): +$490 YoY. Examples: modest like-for-like increases on Honda CR-V, Mazda CX-5.
Provincial read: Ontario still carries the highest SUV presence, reaching an all-time high in August, while Québec posts the strongest YoY SUV price growth.
Cars
Cars set the month’s tone by regaining share to 25.5%, with the average up +$345 MoM to $25,011; again, mix did the lifting (+$616) while within-model prices softened (-$270). Year over year, cars are +$1,561, almost entirely a composition story (mix +$1,753; within-model pricing -$192): more premium/tech compacts are pulling prices up while taking share from mainstream staples like the Civic, Corolla, and Elantra.
- Mix (up): +$1,753 YoY. Examples: Tesla Model 3, BMW 3 Series took more share, moving the car segment to up-market.
- Within-model pricing (down): -$192 YoY. Examples: like-for-like prices coming down on Tesla Model 3, Audi A5, BMW 3 Series.
Provincial read: Share of sales for cars increased in every province in August, with Québec continuing to lead the pack.
Trucks
Trucks delivered higher prices despite losing share month over month. The average rose +$586 MoM to $48,401, with a clear split: mix +$887 and within-model pricing -$302. Compared to last August, trucks show the biggest dollar rise of any body style: +$4,177, with mix contributing +$3,216 and within-model pricing adding +$962–all thanks to heavy-duty models growing in share and price.
- Mix (up): +$3,216 YoY. Examples: Chevrolet Silverado 2500HD, GMC Sierra 2500HD gained share, pushing the average higher.
- Within-model (up): +$962 YoY. Examples: like-for-like increases on Silverado 2500HD, Ford F-350.
Provincial read: Alberta exemplified August’s pattern with the month’s strongest truck price rise; Saskatchewan’s high truck share amplifies the effect locally.
Overall, August’s pricing gains largely came from who sold more of what, not across-the-board mark-ups. Cars won back a little ground, SUVs kept their longer-run dominance, and trucks remained the price engine–driven mainly by a mix tilt toward larger, costlier models.
Even with fewer purchase incentives and softer new-EV registrations in 2025, electrified powertrains are quietly reshaping the used vehicle market. In August, EVs and hybrids combined for over 10% of used sales for the first time, and since the federal EV rebate was paused in January, used EV sales have outpaced new EV sales every month since. Price movements came from two levers we’ve been tracking all year: which vehicles sold more (mix) and how prices changed on like-for-like units (within-model). Keep that lens in mind as we break down EVs, hybrids, and gasoline.
EVs
Year over year, the EV average rose $1,650; composition did the heavy lifting (mix +$5,487) while broad per-model markdowns pulled the other way (within -$3,837). Month to month, August ticked higher as the basket leaned a bit more premium–mix nudged the average up while several individual EVs saw small price trims. In practice, the market keeps tilting toward crossover and performance EVs even as many of those same models transact for less than a year ago.
- Mix (up): +$5,487 YoY. Examples: Tesla Model Y and Ford Mustang Mach-E took a larger slice, lifting the segment average.
- Within-model pricing (down): -$3,837 YoY. Examples: Tesla Model 3 and Rivian R1S were cheaper on a like-for-like basis, offsetting part of the mix rise.
Provincial read: Ontario’s larger, higher-priced EV mix raised the national average; Québec’s softer share reduced the usual downward pull from its lower EV price level.
Hybrids
Hybrids climbed $1,659 year over year, almost entirely because buyers chose higher-priced hybrid nameplates (mix +$1,596); like-for-like pricing was essentially flat (within +$63). August’s month-to-month dip reflects a temporary swing in composition (less weight in the highest-priced hybrids) with small within-model firmness that didn’t quite offset the mix shift. The longer-run story remains steady: demand continues to concentrate in mainstream and upper-tier Toyota/Lexus hybrids.
- Mix (up): +$1,596 YoY. Examples: Toyota RAV4 Hybrid and Lexus RX 450h gained share, pushing the average higher.
- Within-model pricing (flat to up): +$63 YoY. Examples: slight like-for-like gains on RAV4 Hybrid and Camry Hybrid.
Provincial read: Ontario and Québec set the national tone; their mix rotations inside hybrids drive the print.
Gasoline
Gasoline vehicles rose $1,917 year over year, with both levers pushing the same way: a truck-heavier basket (mix +$1,274) and firmer like-for-like pricing (within +$643). In August, the monthly uptick was again composition-led–more full-size pickups in the blend–tempered by small within-model trims on several half-tons and price restraint in compact SUVs.
- Mix (up): +$1,274 YoY. Examples: more Chevrolet Silverado 1500 and GMC Sierra 1500 in the mix lifted the average.
- Within-model pricing (up): +$643 YoY. Examples: like-for-like increases on Ford F-150 and Ram 1500 added to the rise.
Provincial read: The pickup effect is most visible in Alberta, B.C., and Ontario; provinces with heavier compact-SUV presence tempered the overall gasoline rise.
All in all, the electrified share is inching higher even as many EVs got cheaper on a like-for-like basis. Hybrids’ climb is almost entirely a composition story, and gasoline’s pricing increase stems from trucks increasing in both price and mix.
The availability of affordable vehicles tightened across all body styles year over year, but results were mixed month over month. While SUVs and trucks saw affordability decrease compared to July, the share of affordable cars grew.
Out of the three affordability bands for body styles, cars under $15,000 remain the most reachable category at $20.6%. Availability improved where compact sedans were listed in scale, especially in Québec, and slipped where lower-priced inventory was thinner on the West Coast. Shoppers are still seeing familiar nameplates–Civic, Elantra, Mazda3–do the heavy lifting; when their pricing creeps up, the affordability band narrows.
- Québec edged higher (+1.55 pp MoM).
- British Columbia stepped down (-1.62 pp MoM).
For SUVs under $20,000, value crossovers continue to set the tone. Markets with steady listings of Escape, Rogue, and Tucson held their ground or added a little; in provinces where those models were less available, the band eased. Atlantic Canada remained the benchmark, with Québec ticking up and Ontario giving back a bit.
- Atlantic held the lead (small MoM lift).
- Ontario slipped (-1.05 pp MoM).
- Saskatchewan notched a rare Western gain (+1.19 pp MoM).
Trucks under $30,000 still see the lowest availability nationally. Since pricing on high-volume half-tons (F-150, Sierra, Silverado, Ram 1500) has been rising, fewer listings clear the $30k cap. Even so, there were bright spots: Québec improved, while Alberta stepped down as prices stayed elevated.
- Québec moved up (+1.71 pp MoM).
- Alberta retreated (-3.33 pp MoM).
Compared with last year, availability under the pricing caps is thinner. But August suggests a cautious plateau–where compact cars and value compact-SUVs are present in volume, entry points hold; the truck band remains tight when half-ton pricing stays firm.
August’s leaderboard keeps familiar names at the top, but the internal order says a lot about where shoppers leaned. The Ford F-150 lost the crown to the Honda Civic, which accounted for 3.6% of used car sales. The Civic’s average price slipped a touch month over month (-$137) yet remains higher than a year ago (+$788). That steady demand and dip in price also helped the Civic overtake the Chevy Cruze in the affordability rankings, which we’ll cover later on.
Inside SUVs, the centre of gravity tilted toward compacts. Honda CR-V and Toyota RAV4 each went up a rank, with prices edging higher for both. The month’s momentum story sits just behind them: the Volkswagen Tiguan jumped eight spots into the top ten, pairing a moderate price lift with rising sales volume. Similarly, the Mazda CX-5 climbed four ranks on a small monthly price gain and a more substantial year-over-year increase. On the value side, the Nissan Rogue eased a rank with a slight price trim, while the Ford Escape delivered one of the strongest monthly price moves in the top ten. Net effect: the top-selling SUV tier became a little more compact-leaning and a little pricier in composition, but without broad mark-ups.
Trucks ceded some leaderboard ground in a strong SUV month while pricing stayed firm. Ford F-150 slipped two ranks while prices rose both month-over-month and year-over-year. The same story unfolded for the Ram 1500, Silverado 1500 and Sierra 1500: they all dropped in rankings while still maintaining strong year-over-year price increases.
Electrified models remain outside the top ten, but their behaviour in the broader top-100 tracks our fuel-type read: Tesla Model Y and Model 3 continue to show lower prices than a year ago (double-digit declines for Model Y; high single digits for Model 3) while both moved up the rankings, taking share from gas-powered vehicles. On the hybrid side, the Toyota Corolla Hybrid broke into the top 100 with a 33-spot jump.
Taken together, the table reinforces August’s broader themes: cars added share on the back of stable anchors like the Civic, compact SUVs did the heavy lifting through composition rather than across-the-board price hikes, trucks kept year-over-year dollars elevated even as a few half-tons shuffled down the order, and electrified vehicles climbed the ranks while seeing their prices drop year over year.
Own one of these top-selling models? See in-depth pricing insights with our Car Value Calculator.
For August’s Market Makers, we’re segmenting by fuel type because it’s the cleanest way to show how composition (what sells more) versus within-model pricing (what each model sells for) can drive the pricing for a given segment. EVs are the clearest case: the segment average rose even while many individual EVs got cheaper, solely because buyers shifted toward higher-priced crossover and performance EVs. Hybrids show a more mixed landscape, while gasoline gains come from trucks adding both share and dollars, while cheaper cars saw their share slip. Using 12 high-impact models across EV, Hybrid, and Gas lets us show how these segments are playing out with concrete, comparable examples.
The EV segment’s year-over-year price change is a mix-up, price-down story (+$1,650 total = mix +$5,487; within -$3,837). You can see it in the model detail: F-150 Lightning, Taycan, Model S, and ID.4 all increased their share of EV sales, and since they have high price points, this pulled prices up despite their heavy model-level price decreases.
Hybrid pricing moved up primarily on composition, but prices ticked up as well (+$1,659 total = mix +$1,596; within +$63). Overall, results were mixed, but what is very clear is that one brand is making the hybrid market: Toyota. They’ve rolled out hybrid offerings across their whole lineup, and are single-handedly growing the category as other brands play catch-up.
Gasoline’s lift has both engines running (+$1,917 total = mix +$1,274; within +$643). Ford F-150 grew its share of sales and had its price increase, and the same holds true for the Toyota RAV4–exactly the “bigger vehicles, higher dollars” dynamic we see on the macro level. By contrast, compact sedans like the Toyota Corolla and Hyundai Elantra saw their share of sales decline. Together, that’s how the gas average moved up: trucks and SUVs outweighed compact-car softness.
Across EVs, hybrids, and gasoline, composition did the heavy lifting: premium/performance EVs and higher-priced hybrids expanded the pool while trucks and SUVs kept gasoline dollars elevated. That’s why category averages rose even when several individual models posted year-over-year price cuts.
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Shoppers looking for entry-level pricing can still find it, and this month’s leaders under the pricing caps highlight where availability is strongest.
Compact sedans continue to anchor affordability; they clear the $15k cap most consistently across provinces. Mazda3 and Civic edged ahead this month. A big sales month for the Tiguan and CX-5 moved them into the top five, ousting Jeep Cherokee and Chevrolet Equinox and reinforcing that sub-$20k SUV availability is still there if you shop the right nameplates. As for the affordable-truck list, the same models appear again this month.
If you’re prioritizing entry-level pricing, start with compact cars (Elantra/Civic/Mazda3). For SUVs, focus on the value-leaning crossovers now leading the sub-$20k list, but if you come across a more sought-after RAV4 or CR-V at a bargain, don’t hesitate to consider it. For trucks, expect fewer options under $30k, but mainstream half-tons like the Ram 1500 still make it possible.
Planning your next purchase? Estimate total cost and monthly payment with our Car Loan Calculator.
Final Takeaways & What to Expect Next
Through the fall, we expect the national average selling price to edge higher, driven less by broad mark-ups and more by composition: a larger share of SUVs and a steadily rising slice of electrified vehicles. At the same time, per-model used-EV prices should remain soft as supply deepens, so the average price climbs because of what sells, not because every model gets pricier.
The federal package announced by Prime Minister Mark Carney at the start of September reshapes the near-term backdrop. Pausing the 2026 EV mandate for a 60-day review lowers immediate pressure on new-EV targets and creates short-term uncertainty in new supply, which typically channels more shoppers into the used EV market. The outcome of the review is still highly speculative, so we’ll have to wait and see what happens. If the government reinstates Zero-Emission Vehicle (ZEV) targets and new incentives, expect a pull-forward in EV demand with newer, higher-spec trade-ins entering used listings–again a composition effect with muted per-model inflation.
The broader tariff and “Buy Canadian” stance points to higher new-vehicle MSRPs at the margin for imported models and tighter procurement rules that favour domestic production. Higher new prices usually prop up used values with a lag, supporting the gentle climb we’re seeing–especially for late-model SUVs and trucks. The new $5B Strategic Response Fund, bigger tariff-relief pools, and expanded BDC lending improve business cash flow and retooling, but those are medium-term supply effects, not immediate price relief for shoppers. Meanwhile, there’s pressure from consumers and some provinces to ease Chinese tariffs, which would allow cheaper EVs into the market. If that were to happen, those vehicles wouldn’t be hitting the market for at least a year, so no material impact would be expected until further down the road.
Net of policy and market forces, the path is familiar: a mix of bigger, more premium vehicles keeps nudging the average price up month-to-month, used EVs get more affordable model-by-model, and SUVs continue to take share. The key watch-items now are the EV-mandate review outcome, tariff trajectory on imported vehicles, and how quickly any federal support translates into new-car pricing and supply–all of which will shape the balance between rising electrified share and still-soft EV transaction prices in the used market.
About This Data
This report is based on Clutch’s internal data, collected from retail vehicle sales reported across Canada. The analysis includes vehicles that meet the following criteria:
- Model year 2015 or newer
- Less than 200,000 km at the time of sale
- Sold vehicles only
References to “cars” include both sedans and hatchbacks, while SUVs and trucks are categorized separately. This segmentation helps reflect real-world buyer preferences across different body styles.
While the dataset covers a large national sample, pricing in smaller provinces or regions with lower sales volume may be influenced by individual outliers. This can lead to greater month-over-month fluctuations in certain areas compared to larger markets like Ontario, Quebec, and British Columbia.
The figures presented reflect average asking prices at the time of sale and are designed to provide an accurate snapshot of current market trends.
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