Luxury sales market continues strength
Subcompact SUVs prove more popular along with pickup trucks and vans
Recent statistics released by Canada’s only dedicated automotive market research company illustrate the continued impact of the auto sector on the Canadian economy.
According to DesRosiers, 2017 was another record year for Canadian sales. Growth was led by the subcompact SUV segment, which experienced a 32.6 per cent sales increase, outperforming the market by a wide margin and selling 69,458 units.
But when it came to dominant themes in the Canadian market, the two segments that stood out were the car-to-truck shift and the continued strength of the luxury market, particularly here in British Columbia. Luxury sales continued to grow again this year with all segments achieving yearend gains across the board with and exception in the compact luxury (-6.6 per cent) segment. The luxury high segment rose 17.8 per cent, taking its position as the second-fastest growing segment for the year.
All of the luxury SUV segments experienced sales growth and outperformed the market overall, as expected with the ongoing car-to-truck shift.
As of 2017, luxury sales account for 11.6 per cent of the Canadian market.
Just over 61 per cent of these sales were luxury light trucks, which are up from December. While it is still early into 2018, it is safe to say that the B.C. sector will likely see continued strength in the luxury market.
DesRosiers also found that Canadian new light vehicle sales (which include SUVs, pickup trucks and vans) were above expectations, reaching an alltime high in January of this year. Up 5.7 per cent, 117,300 vehicles were sold last month alone.
With the subcompact SUV segment leading the way for sales in 2017 and into 2018, the upcoming Vancouver International Auto Show will have a variety of the top subcompact SUVs for visitors to check out, such as the Honda HR-V and Mazda CX-3. Of particular mention is the 2019 Mitsubishi Eclipse Cross, which will be making its British Columbia debut at the show and is sure to turn some heads and add to the already growing sales.
If the increasing luxury car market in B.C. is more your speed, there will be plenty of gorgeous luxury vehicles to explore as well, such as the Maserati Levante, Lexus RX L and Mercedes-Benz GLC 350c.
Automotive News Canada believes that the assembly of Canadian motor vehicles is set for a big first quarter, and potentially, a big year and we are excited to see what 2018 has in store.
Of course, you can get a better idea of the future of the automotive industry at the 98th Vancouver International Auto Show as it returns to the Convention Centre West from March 28 to April 1.
For more information and tickets, visit VancouverInternationalAutoShow.com.