Seeking a cheaper car? Cross the border
Loonie’s rise gives Canadians a break south of the border
by GREG KEENAN
» Read Full Article
The massive gap in prices that led Americans to flood into Canada to buy vehicles has vanished, so that now Canadians can save thousands of dollars if they purchase a new car in the United States.
Canadians buying luxury sport utility vehicles will save as much as $14,000 if they buy them in the United States, auto industry analyst Dennis DesRosiers said yesterday in his annual comparison of vehicle prices between the two markets.
“It appears that, to date, auto makers have not adjusted their MSRPs [manufacturers’ suggested retail prices] to reflect our dollar’s new-found strength and Canadian vehicle buyers have not reaped the benefits resultant from a strong currency,” he noted.
The reversal of the price gap that hit its peak in 2002 means that the flow of cars from the United States into the Canadian market is growing, vehicle brokers and others said yesterday.
