Market Share of Canada Used Car Industry
The market is highly fragmented and competitive, with various used car dealerships and online used car platforms operating across Canada. Some of the major players include AutoCanada, Kijiji, AutoTrader, Carfax, Canada Drives, Clutch, CarDoor, Craiglist, Carpages.ca, and Go Auto, among others. These players compete based on various parameters such as used car prices, online presence, value-added offerings such as warranty and financing options, commissions charged, number of listings on their platform, and ready information on the performance of used vehicles, among others.
Various companies operating in the ecosystem are actively engaging in integrating the online used car space to enhance their brand presence and expand their business capability across Canada. For instance,
In June 2023, CarGurus, a digital auto platform for shopping, buying, and selling new and used vehicles, announced the release of the CarGurus ChatGPT plugin to help shoppers discover their ideal car match more efficiently. The tool uses generative artificial intelligence (AI) to enhance automotive search, providing shoppers with more personalization and ease when exploring CarGurus' platform of listings.
In June 2023, Kijiji Canada announced a partnership with AutoVerify and TD Auto Finance to provide consumers with easy access to trade-in values and to potentially pre-qualify for auto loans. The vehicle-free trade-in estimate assists in evaluating a used vehicle's worth based on various factors, such as the listing and sold prices of similar vehicles in the market.
In April 2023, AutoCanada, an automobile dealership group, announced that it had acquired Premier Chevrolet Cadillac Buick GMC ("Premier"), a used and new vehicle Chevrolet Cadillac GMC Buick dealership and collision center located in Ontario, Canada.
Canada Used Car Market Leaders
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AutoCanada
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Kijiji
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AutoTrader
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Carfax
*Disclaimer: Major Players sorted in no particular order
