Canadian Vehicle Prices Still Higher Than In The United States
It has been generally well known that Canadians, for the most part, pay more for their cars than Americans. Of course, right? After all, USA is home to some of the largest car companies in the world. The cost of importing all those cars into Canada from the USA must account for the price differences between American and Canadian cars, right?
Not exactly. The North American free trade agreement states that any car manufactured within North America can be imported or exported between North American countries free of duty.
In recent years Canadians have been importing record numbers of vehicles from the U.S.A. into Canada. While the exchange rate between the Canadian and American dollar has not had Canadians at such a great advantage in years, there are yet many other reasons why Canadians are flocking south of the border to make their next car purchase.
In a recent comparison between American and Canadian vehicle prices, it was found that Canadians are paying almost 20% more than Americans are for their new vehicles. That means most Canadians are currently paying about $5000-$6000 more, on...
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