The OPENLANE Canada Used Vehicle Price Index has been updated through November 2025. The index decreased by 4.8 after being adjusted for seasonality.

November 2025 saw approximately 142K new vehicles sold to Canadian consumers. This is a decrease year over year, but it is key to point out that in late fall 2024, Canadians inflated the EV market in a rush to capitalize on the available rebates.  The Canadian government announced that federal government electric vehicle incentives would expire in early 2025 and the Quebec government indicated that the provincial incentive would be reduced. This surge inflated the November 2024 sales leading it to be one of the best Novembers on record for auto sales.

Considering the economic effects of US tariffs, uncertainty plaguing consumer confidence, and waning interest in EVs – November 2025 auto sales were surprisingly ‘normal’.

The ALG forecast for early 2026 did not see significant changes to overall factors like pricing, used supply, changes to rental fleet strategies or the use of incentives. ALG will continue to monitor these factors closely and their impact to the forecast.

Price movements by segment were mostly negative in November. Mid Compact showed the most decrease at -9.7% ($1,442), Compact SUV at -6.7% ($1,485), Midsize at -6.7% ($1,161), Fullsize Pickup at -3.2% ($1,033), and Midsize SUV at -2.8% ($699).