Wednesday, November 28, 2007

Car Prices: People Power Making a Wheel Difference

It looks like there is so much cross-border car shopping that Canadian car dealers are starting to make efforts to win customers back (see CBC video report).
Since November 2007, reports had Honda Canada offering incentives on some Civic, Accord and Pilot models, ranging from $1,500 to $5,500 if you pay cash.

Used car prices in general in Canada are also dropping. That's because there has been a record number of imported vehicles from the U.S.
Canadians imported 24,873 vehicles in October alone - a 68 per cent jump over September's numbers and twice as many as in October 2006

The high number of used imports is creating a surplus of used cars for sale in Canada and hence driving down prices, at least on the mainland. It is still wise to compare U.S. prices before the big decision to buy from a Canadian dealer. See a couple of recent car price comparisons here.

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