Tuesday, February 27

CARFAX Canada Presents: 2023 Year in Rear View


Article content

CARFAX Canada Vehicle History Reports Uncovered Critical Insights for Canadians This Year

LONDON, Ontario — CARFAX Canada, presents Year in Rear View 2023. After running millions of Vehicle History Reports over the past year, CARFAX Canada has once again discovered critical insights that impact Canadian drivers. Using their network of billions of data records from thousands of trusted sources across North America, this one-of-a-kind information looks at vehicle thefts, accident claims, liens and other crucial data points affecting vehicle ownership in Canada.

Article content

Vehicle theft emerges as a growing concern for Canadians. CARFAX Canada reports found 13,355 vehicles were identified as actively stolen in 2023. Nevil Knupp, VP Data and Business Development, states, “Car theft, specifically VIN tampering and VIN cloning, poses a significant challenge. A CARFAX Canada Vehicle History Report not only flags actively stolen cars but also equips buyers with ways to detect cloned VINs and inaccurate vehicle data.” CARFAX Canada works with law enforcement across the country to help identify stolen vehicles as fraudsters become more sophisticated.

In 2023, CARFAX Canada Vehicle History Reports found 1,477,415 accident claims, amounting to $6.2 billion in damages. Additionally, nearly 90,000 vehicles were classified as ‘salvage’ or ‘non-repairable.’ Beyond collisions, severe weather also played a role in vehicle claims, contributing to over $185 million in weather-related damage, with hail accounting for 94% of this total.

Liens (money owed on a vehicle) remain a concern for used car buyers, with 44% of lien checks conducted revealing outstanding debt on vehicles. Year after year, this issue highlights the importance of knowing the history before you buy or sell your vehicle.

Lastly, the highest odometer reading found on CARFAX Canada reports this year was a 2015 Dodge Ram with an impressive 764,405 kilometres logged.

Knupp continues, “In addition to vehicle theft, we’re also seeing an increase in fraudulent vehicle history websites that are leading to attempted identity theft. This emphasizes why it’s important to use Canada’s #1 vehicle history report to help protect yourself when buying or selling used vehicles.”

Visit carfax.ca to learn more about the CARFAX Canada Vehicle History Report + Lien Check.

Based on data appearing on CARFAX Canada Vehicle History Reports run between September 1st 2022, and September 1st 2023.

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

Connect with CARFAX Canada on Instagram, Facebook and LinkedIn.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231128067948/en/

logo

Contacts

For further information or for an interview with a CARFAX Canada representative, please contact:
Kristy Pinder, Brand Director at CARFAX Canada
[email protected]
+1.519.854.0571

#distro



financialpost.com