Luxury Vehicle Market

In 1990, the luxury market in Canada only accounted for 3.1 percent of the total new vehicle sales market. Since then, that share jumped to 5.9 percent in the 2000s and by the end of 2010 hit 9.0 percent. The luxury market in 2016 accounted for 11.1 percent of the total market, a 2.1 percent growth in share in only 6 years. Considering the rapid growth of the luxury market in relation to the mass market in Canada, it is important to first understand the conditions that have facilitated this growth and the outlook moving forward.

In this month’s observations, we discuss the luxury market’s past, present, and future. Topics of discussion include the vehicle mix, demographics, product availability, survival rates and financing.

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