Cars are currently expensive in Canada due to a combination of lingering global supply chain disruptions, elevated manufacturing and raw material costs, high consumer demand, and a tight inventory of both new and pre-owned vehicles. Furthermore, currency exchange rates, inflation, and a surge in expensive technological and safety features built into modern vehicles have driven up MSRPs. On the used car front, high interest rates and delayed new vehicle production pipelines over recent years have kept used vehicle demand exceptionally high, inflating market prices nationwide.
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