CARFAX Canada: Used Vehicle Prices Continue to Stabilize while Inventory Ramps Up

LONDON, Ontario--(BUSINESS WIRE)--Jun 11, 2026--

As Canadians head into the summer months, the used vehicle market is facing increasing pressure, as economic conditions become more challenging nationwide.

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The June CARFAX Canada Used Vehicle Market Insights Report reveals that while prices remain elevated compared to pre-pandemic levels, they have generally plateaued so far this year and have come down significantly from 2025.

In April, 30.9% of used vehicles listed for sale had reported damage, with an average listing price $7,464 lower than undamaged vehicles — a significant gap. This spread reflects the variability in how damage impacts value, influenced by both damage severity and vehicle type. While CARFAX Canada offers VIN-specific valuations that capture this variability at the individual vehicle level, the figures in this report are based on broad market estimates.

Used vehicle inventory is climbing fast, but not enough to outstrip levels seen last year. Supply remains constrained due to reduced new vehicle production earlier in the decade and the associated follow-on effect of lower leasing volumes in the same period.

Although most buyers are seeing value in the market, this has yet to translate into sustained transaction growth. Used and new sales are off to a slow start this year, with demand continuing to be constrained by macroeconomic conditions and affordability pressures. While transactions have shown a modest rebound in recent months, overall volumes remain below year-ago levels.

Electric Vehicles

The EV market continues to show volatility, but consumer interest is building. Amongst Canadians planning to purchase a used vehicle in the next 12 months, 22% are considering a Battery Electric Vehicle (BEV). This demand is being driven by expanding infrastructure and higher gas prices, which reached an average of 178.8 cents per litre in April — the highest level for regular unleaded gas seen since July of 2022. But supply remains tight, with BEVs representing just 4% of all used listings and inventory heavily skewed towards higher-priced models.

With gas prices not anticipated to level off anytime soon and new, likely more affordable Chinese EVs arriving on Canadian soil this year — albeit in limited quantities — electric demand is expected to gain momentum. Some Chinese models from manufacturers like BYD, are expected to retail at a lower price point than the average price for a used EV today, helping to improve accessibility. CARFAX Canada research shows that while fuel savings are the number one driver for prospective EV buyers, high price tags remain the biggest barrier. For more EV insights, check out our full report: “What’s next for EVs, and how dealers can get ahead.”

Market Snapshot

Key Takeaways

CARFAX Canada Used Vehicle Market Insights arm the auto industry with the knowledge to decode market trends, sharpen buying and selling strategies, and navigate an increasingly complex vehicle marketplace with confidence.

For the latest trends and insights on the average price by vehicle condition, region, market segment, and vehicle type, view the full June CARFAX Canada Used Vehicle Market Insights Report here: https://www.carfax.ca/media/carfax-canada-used-vehicle-market-insights-2026-06

About CARFAX Canada

CARFAX Canada, a part of S&P Global (NYSE: SPGI), is Canada’s definitive source of automotive information, delivering vehicle history, valuation and service solutions. Drawing on billions of data records from thousands of sources, its products enable used vehicle buyers, sellers and vehicle service providers to make informed decisions. CARFAX Canada is dedicated to transparency and is trusted to provide vehicle history, valuation and service information to dealerships, vehicle manufacturers, consumers, service shops, major auctions, governments, insurance providers and police agencies.

Connect with CARFAX Canada on Instagram, Facebook and LinkedIn.

CARFAX Canada Used Vehicle Market Insights - June 2026 Snapshot

CARFAX Canada Used Vehicle Market Insights - June 2026 Average Price by Vehicle Condition

CARFAX Canada Used Vehicle Market Insights - June 2026 Banner

Milwaukee Brewers prospect Luis Lara understands the challenges involved in making the big leagues as an undersized player.

And he appreciates the faith the Brewers showed in his abilities by signing him to a $31 million, seven-year contract.

Lara spoke with reporters over Zoom on Wednesday, one day after signing the deal, which includes club options for 2033, 2034 and 2035. The 5-foot-7 outfielder from Venezuela was asked about skepticism he had encountered along the way.

“More than anything, (I’ve) felt (I’ve) had more people rooting for (me) and that have believed in (me) and been in (my) corner than people that have questioned (me),” Lara said through interpreter Julio Borbón, a Brewers special adviser to player development and scouting. “That’s also played a big role in where (I’m) at today.”

Lara receives a $2 million signing bonus, payable within 60 days of the agreement's approval by Major League Baseball. He gets salaries of $2 million each in 2026 and 2027, $3 million in 2028, $4 million in 2029, $5 million in 2030, $6 million in 2031 and $7 million in 2032.

Milwaukee has a $10 million option for 2033 with no buyout, an $11 million option for 2034 with a $2 million buyout and $12 million option for 2035 with a $1 million buyout. The option prices can escalate by $2 million for winning an MVP award, $1 million for finishing second or third in the voting, $500,000 for fourth or five and $250,000 for sixth through 10th. They also would go up by $200,000 for All-Star election or selection and by $200,000 for winning a Gold Glove.

Lara, an outstanding fielder who's having a breakthrough season at the plate with Triple-A Nashville, said the deal was negotiated swiftly.

“It goes back to about two weeks ago, when things started flowing in terms of when the offer came out,” Lara said. “From there, everything kind of happened fairly quick.”

This marks the latest example of the Brewers taking a chance on a shorter player who measures up in just about every other aspect.

Milwaukee acquired third baseman Caleb Durbin in a December 2024 trade that sent two-time All-Star reliever Devin Williams to the New York Yankees, and the 5-6 infielder finished third in the NL Rookie of the Year balloting last season before getting traded to Boston in February.

Two weeks before trading Durbin, the Brewers acquired 5-7 infielder Jett Williams along with pitcher Brandon Sproat in the deal that helped the New York Mets land two-time All-Star pitcher Freddy Peralta. Williams is Lara’s teammate at Triple-A Nashville.

Lara, 21, is hitting .336 with a .447 on-base percentage, seven homers, 28 RBIs and 20 steals in 58 games with Nashville this season. He batted .257 with a .369 on-base percentage, two homers, 40 RBIs and 44 steals in 136 games with Double-A Biloxi last year.

He also won a Gold Glove as one of the top three defensive outfielders in the minors last year.

“Especially in center field, the reads off the bat, the amount of games growing up playing, it was something that (I) just had a knack for, being able to track balls down and run them down,” Lara said.

Lara got his contract less than three months after the Brewers signed shortstop prospect Cooper Pratt to an eight-year, $50.75 million deal.

They would love to follow the lead of Brewers outfielder Jackson Chourio, who signed an eight-year, $82 million contract in December 2023 when he had no major league experience and had played only six games above Double-A. Chourio made the big league roster the next year and had more than 20 homers and 20 steals in each of his first two full seasons in the majors.

Even so, Lara understands he can’t take for granted that the contract will make his path to the big leagues any easier.

“It’s basically not something that gives (me) a free pass and (I’m) just going to be able to get there,” Lara said. (I’m) going to continue to put in the same amount of work and have the same amount of approach in (my) game as (I’ve) had in previous years.”

AP Baseball Writer Ronald Blum contributed to this report.

AP MLB: https://apnews.com/hub/MLB

FILE - Milwaukee Brewers' Luis Lara follows through with his swing against the Los Angeles Dodgers during the third inning of a spring training baseball game, Monday, March 16, 2026, in Phoenix. (AP Photo/Ross D. Franklin,File)