Rob Carrick interviews the CEO of Clutch.ca for the latest insights for going car shopping in the current market
If you’re in the market for a car, SUV or pickup truck, prepare for a rough road ahead. Prices and financing rates remain high, and dealer fees have risen as well. Also, there are still waiting lists for some vehicles. For some thoughts on how to navigate the vehicle market, I invited Dan Park, CEO of, to do a newsletter Q&A. Clutch is an online used car marketplace, and it also helps people find deals on new cars.
A: During the pandemic, the global auto industry underproduced an estimated 13 million vehicles, leading to a severe supply shortage of new vehicles and a consequent spike in used vehicle prices. Prices have since declined over 20 per cent from their peak in May 2022, but they remain 48 per cent higher than in January 2019. While we don’t anticipate an increase in used car prices, they will likely stay persistently high over the next few years.
A: The most popular vehicles remain consistent, with Honda Civics and Toyota Corollas being our most popular sedans, and Toyota RAV4s, Honda CR-Vs, and Nissan Rogues as our top SUVs. Pickup trucks, with Ford F-150s and Ram 1500s leading, continue to be among the best-selling vehicles in Canada. Over the past year, 3 million searches were conducted onCurrently, domestic automakers, including brands like Dodge, Chrysler, Lincoln, and Ram, have higher inventory levels.
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