(RICHMOND HILL, ON) – In 1990, the luxury market in Canada accounted for just 3.1 per cent of the total new vehicle sales market. Since then, that share first jumped to 5.9 per cent in the 2000s and, by the end of 2010, had hit 9 per cent.
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, the luxury market’s past, present, and future are discussed. Topics include the vehicle mix, demographics, product availability, survival rates, and financing.
More information can be found in the DesRosiers Automotive Reports published by DesRosiers Automotive Consultants. For more information on these reports contact Terry Chung at (905)-881-0400 x26 or by email.