As we enter further into a new year, recent statistics released by Canada’s only dedicated automotive market research company, DesRosiers, illustrate the continued impact of the auto sector on the Canadian economy.
2017 was another record year for Canadian sales. Growth was led by the subcompact SUV segment which experienced a 32.6% 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 which 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 year end gains across the board with exception to the compact luxury (-6.6%) segment. The luxury high segment rose 17.8%, 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% of the Canadian market. 61.2% of these sales were comprised of luxury light trucks, which is up from December. While it is still early into 2018, it is safe to say that the BC sector will likely see continued strength in the luxury market.
DesRosiers also states that new light vehicle sales (which includes SUVs, pickup trucks and vans) in Canada rose above expectations and reached an all-time high in January of this year. Up 5.7%, 117,300 vehicles were sold in January 2018 alone.
With the subcompact SUV segment leading the way for sales in 2017 and into 2018, the Vancouver International Auto Show will have a variety of the top sub-compact SUV’s for visitors to check out such as the Honda HR-V and Mazda CX-3.
Excitingly, the beautiful 2019 Mitsubishi Eclipse Cross 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 BC 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, 2018.
Check out the latest in vehicle unveils and find something that suits your unique lifestyle. For more information on the Show and to purchase tickets, visit www.VancouverInternationalAutoShow.com.
Blair Qualey is President and CEO of the New Car Dealers Association of BC. You can email him at [email protected].
