2014 Canada Automotive Sales Research
In 2014, the Canadian automotive market experienced further growth, and the underlying trends from previous years continued to evolve. 2014 continued the growth trend in auto sales, registering another record-breaking year. The Canadian market surpassed the 1.8 million mark for new vehicle sales, indicating strong consumer demand and economic stability. The shift towards SUVs, crossovers, and light trucks deepened. Many Canadian consumers gravitated towards these vehicles for their versatility, all-weather capabilities, and higher driving position. Trucks, in particular, remained dominant, especially in the western provinces. While Canada's national economy was stable in 2014, regional disparities were evident. Provinces like Alberta, driven by oil and energy sectors, initially enjoyed strong sales, but concerns about declining oil prices towards the end of the year signaled potential future challenges. Despite the surge in SUVs and trucks, compact cars remained popular, especially in urban regions. Vehicles like the Honda Civic, Hyundai Elantra, and Toyota Corolla maintained strong sales figures. The luxury segment persisted in its growth trajectory. Brands like Mercedes-Benz, BMW, and Audi expanded their lineups, offering a broader range of vehicles, including more affordable entry-level luxury models, attracting a wider audience. Asian brands, particularly Toyota, Honda, and Hyundai, remained strong. Domestic brands like Ford, GM, and Chrysler (FCA) continued to be formidable, especially in the truck segment. European brands, both mainstream and luxury, saw varied performance but generally maintained their market share.