The large sport utility vehicle segment has seen the biggest growth among vehicle segments in 2023 while the subcompact cars have seen the most significant drop off.
DesRosiers Automotive Consultants reported new light vehicle sales among reporting manufacturers have been increasing for eight straight months and first-half sales have increased an estimated 7.6 per cent compared to last year.
With a 37.3 per cent growth rate, the large SUV segment is by far the fastest-growing segment for consumers. It’s followed by a pair of luxury segment vehicles with sports cars (29 per cent) and cars (27 per cent) coming in second and third.
On the decline, subcompact cars dropped the fastest with 27.4 per cent fewer vehicles sold. Luxury high cars fell 19.5 per cent while small pickups dropped 19.3 per cent.
“While inventory shortages have undoubtedly distorted the market recently, consumer choice remains a powerful force and Canadian consumers are continuing their love affair with SUVs,” said Andrew King, managing partner at the consultancy.