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The Canadian light vehicle market saw a significant rebound in 2024, with overall sales reaching an estimated 1.86 million units sold in 2023, according to DesRosiers Automotive Consultants. Quebec was highlighted as a leading province as consumers rushed to buy zero-emission vehicles (ZEVs) before provincial incentives were reduced.
Despite ongoing economic challenges, Canadians are demonstrating resilience in their vehicle purchasing habits, according to new research from AutoTrader. While the economic landscape remains challenging, with high interest rates, gas and vehicle prices influencing decisions, Canadians are adapting.
As new vehicle inventory continues to grow and sales slow, manufacturers and dealers are expected to offer higher incentives to keep cars and trucks moving off lots in 2025. New vehicle inventory reached 3.23 million in November 2023. New vehicle inventory reached 3.23 million in November 2023.
According to industry findings, more people among the 35-44 age group are now entering the vehicle market. At AAPEX last fall, he noted that many young people are now purchasing vehicles as they reach their late 20s and early 30s, driven by life milestones like starting families or landing stable jobs. “It In total, that’s around 3.7
The price of new vehicles in Canada has levelled off in the last year but has still seen a significant increase in the last 10 years. DesRosiers Automotive Consultants reported that the average price for a new vehicle at the end of 2024 surpassed $45,000 for a passenger car and almost $55,000 for a light truck.
Canadian consumers are moving toward affordability and practicality when shopping for vehicles, according to year-end data from AutoTrader. Economic challenges appear to be influencing decisions, with mainstream models taking precedence over luxury vehicles in both searches and sales throughout 2024.
As the age of cars and light trucks continue to rise, vehicle odometer readings continue to climb, driving growth in the aftermarket for internal combustion engine (ICE) vehicles. According to Lang Marketing’s latest report, “Soaring Odometers Boost ICE Aftermarket,” light vehicles in the U.S.
Volvo Cars reported global sales of 66,977 cars in November, up 5% compared to the same period last year. Volvo Cars said. The companys sales of electrified models fully electric and plug-in hybrid models grew 40% compared to the same period last year and accounted for 48% of all cars sold during November.
While electric vehicles (EVs) continued to appeal to Canadian car shoppers in 2024, widespread adoption remains low, according to data from AutoTrader. The data revealed that search interest in EVs grew by nine per cent this year, yet still represents just eight per cent of total vehicle searches on the platform.
Here’s what they’ve learned during the experience — and what they find customers are learning along the way Despite all the noise, the negative talk, the pullback from automakers and global trends, Canadians are still turning out to buy electric vehicles. per cent of all new vehicle registrations, while plug-in hybrids were another 3.5
In January 2025, Transport Canada announced the pause of the Incentives for Zero-Emission Vehicles (iZEV) Program due to the exhaustion of available funds. Since its inception in 2019, the iZEV Program has been instrumental in promoting EV adoption by offering rebates of up to $5,000 for eligible vehicles. per cent in 2023.
Last year was a challenging time for the electric car market, but plug-in hybrid electric vehicles (PHEVs) are experiencing significant growth, according to a new report. According to Mika Takahashi, a technology analyst at IDTechEx, the electric vehicle market faced numerous obstacles in 2024, particularly in Europe.
Caterham initially unveiled the Project V concept car at the Goodwood Festival of Speed in the UK in July 2023 and later at the Tokyo Auto Salon in January 2024. the companies said they are progressing with the development and production of a prototype vehicle, targeting completion around mid-2025.
New vehicle prices in December climbed higher for the fourth consecutive month and were close to the all-time high marked in December 2022. New vehicle ATPs were $49,740 last month, an increase of 1.3% Vehicles, especially luxury vehicles, are typically an emotional purchase, and when consumers are optimistic, they go shopping.
Enter the Rimac Nevera R , which was first unveiled last year during Monterey Car Week. The car was in its high-speed mode for the tests, which as with its Bugatti cousins unlocks the maximum top speed. The Croatian electric hypercar managed the feat in 29.93 seconds, beating the previous record holder, the Koenigsegg Regera , by 1.56
View this post on Instagram A post shared by Cars Magazine & Jobber News (@autoserviceworld) Then NFL broadcaster Erin Andrews took to the stage for a fireside-style chat to discuss her career and being a woman in a male-dominated field. It may also impact leisure travel and how vehicles are used in general.
Dealership service department customer satisfaction was strong in 2024 though a bit less so for owners of electric and plug-in hybrid vehicles. Electrified vehicle owners averaged 51 points less among mass-market vehicles and 57 points less in the premium sector, which J.D. Powers 2025 U.S. In a news release, J.D.
car sales showed encouraging growth, while the European market remained mostly stagnant, according to JATO Dynamics. American buyers have historically favored petrol vehicles, but battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs) led market expansion in 2024. Car Sales The U.S.
With that in mind, CARFAX has added month-over-month insights to its Used Car Index reports, the first major change in these recaps since their April 2023 debut. They were followed by pickup trucks (down 6.1%), SUVs (down 5.2%), luxury SUVs (down 4.6%) and cars (down 4.5%). Luxury car prices were down 2.1%
This 2023 Dodge Challenger SRT Demon 170 is one of just 40 cars built under the Demon 170 Jailbreak program, having originally cost $150,946 to purchase. Normally, one would expect such a vehicle to make some money on the used car market, maybe even an extra $50,000 to hit that sweet $200k mark.
In its 72 years of existence, the Chevrolet Corvette only surpassed the 50,000-unit-a-year milestone three times: in 1979, in 1984, and in 2023. ‘You. continue reading. )
After taking a significant drop during the pandemic and associated supply issues, the percentage of car buyers purchasing a new vehicle from the same brand they currently own rose for the second consecutive year in 2024, according to the LexisNexis Risk Solutions Automotive Brand Loyalty Study. Brand loyalty came in at 52.6%
Cox Automotives Kelley Blue Book released its March new-vehicle average transaction price (ATP) report today. Key takeaways include new car prices for 2025, incentive trends and how consumers reacted to expected tariff impacts. New-vehicle incentives have averaged 7.1% vehicle sales. vehicle sales. in incentives.
PRT said the 18 products represent more than 10 million vehicles in new coverage. PRT also introduced products for new applications like the 2023 Hyundai Kona. Models Include Passenger Cars, SUVs and Trucks The expanded coverage targets a wide range of popular vehicles. These include sedans, SUVs and pickup trucks.
A 2023 McKinsey survey found that a third of buyers want to purchase their next vehicle online, citing “speed” and “simplicity” as major factors. In 2022, online car sales accounted for just 2% of total sales. That starts with a fundamental but easy-to-overlook task: vehicle titling.
Tariffs on vehicles and auto parts are directly inflating repair costs, disrupting supply chains, and increasing claim severity across key regionsfrom the U.S. With 60% of replacement parts sourced from these countries, this is triggering immediate premium increases14% in 2023, 12% in 2024, and projected to rise another 819% by 2025.
Morgan is the British manufacturer that made a name for itself outside its native Great Britain with three-wheeled thrillers and wood-frame cars. Be that as it may, December 2023 saw the small compa. continue reading. )
According to newly compiled data from Enterprise Fleet Management , Holman , and Mike Albert Fleet Solutions , OTD averages across all major fleet vehicle categories continue to decline. Both production lead time and transportation time are lower across nearly all vehicle segments.”
The year started off with expectations there might be a return to normal in the used-car market. Industry observers releasing wholesale vehicle price indices last week noted uncertainty and surprises in the market to begin the year. At Black Book, the Used Vehicle Retention Index came in at 146.3 last month, down 1.2%
There were naturally some new battery-electric vehicles at this years Los Angeles Auto Show in late November. Long gone are the days when hybrids were a quirky type of powertrain that cost more and performed less than gasoline-powered vehicles. But another kind of electrified powertrain stole the show: hybrids. Hybrid sales in the U.S.
Although the year began with declines in the average used car price, the trend quickly shifted. According to the CarGurus Used Car Price Index , which tracks millions of used car prices, prices drifted down from December to February. overall, since the start of the year.
Graphic: Cox Automotive Wholesale used-vehicle prices (on a mix, mileage, and seasonally adjusted basis) were lower in May compared to April , according to the Manheim Used Vehicle Value Index (MUVVI). Mid-size sedans decreased 1.6%, trucks were down 1.9%, and compact cars declined 2.3%. The index declined to 205.2,
How to Unify Communication When Ben Chodor took over as CEO for CallRevu in August 2023, he wanted to expand on the company’s mission to offer a unified communications solution specifically for automotive dealers. At the end of the day, we’re buying cars from human beings. The human beings are going to be working on my car.
In 2023, the automaker sold 765,000 F-150s in the U.S., In teaching the I-CAR rivet bonding class, I’ve learned that most technicians do not understand why blind rivets are used and their proper removal and installation procedures. In 2015, Ford introduced its all-aluminum body F-150 pickup. It boils down to proper tools and training.
Discover a smarter used car inventory sourcing strategy. Learn how to find high-margin vehicles outside auctions and boost your dealerships ROI. The best cars dont hit the lane; theyre in someones driveway. However, anyone who has ever bought a car off Craigslist knows that its just not feasible at scale.
New-car inventory is falling while prices are elevated and likely to rise more as the tariff era continues. And that’s good news for the used-car sector. The used-vehicle sector is continuing to benefit from the turbulence in the new-vehicle marketplace,” ZeroSum vice president of dealer success Josh Stoll said.
Affected electric performance vehicles were produced for the 2022 and 2023 model years. The cars in question are split between 3,773 examples in the United States and 394 in Canada. The Volkswagen Group of America has issued two recalls over a safety concern affecting the pre-facelift Audi e-tron GT and RS e-tron GT.
However, the pandemic abruptly changed consumer behaviour, leading many to perform their own vehicle repairs in the U.S., The pandemic also closed thousands of repair outlets, reducing the DIFM market’s capacity to service the growing number of cars and light trucks. this was spurned by using government-issued incentive checks.
Mammoth is a good enough word to describe Ford's latest safety recall, one that comprises 850,318 vehicles produced for the United States market for the 2021 through 2023 model years. Affected sport utility vehicles include the Bronco, Explorer, ( continue reading. )
Department of Transportations Volpe Center, this basic prerequisite has become far more difficult in modern vehicles. Forward visibility up to 10 meters has become worse in all seven vehicles tested, and as much as 58% worse in some SUVs. The study selected seven popular vehicles sold between 1997 and 2023.
Engine Recall A number of 2022 and 2023 Toyota Tundra trucks have been recalled for engine issues. Service Your Toyota Tundra with AutoNation Mobile Service AutoNation Mobile Service brings expert, reliable vehicle maintenance directly to you.
PRT said the 18 products represent more than 10 million vehicles in new coverage. PRT also introduced products for new applications like the 2023 Hyundai Kona. Models Include Passenger Cars, SUVs and Trucks The expanded coverage targets a wide range of popular vehicles. These include sedans, SUVs and pickup trucks.
That’s no longer just an American thing ; in the first half of 2023, market share for utility vehicles exceeded 50 percent in Europe for the first time ever , and it’s the same in China. Car enthusiasts love to hate on the things , which I think is usually pretty misguided anyway, but a… Read more.
Cox Automotive showcased new retail and wholesale solutions designed to fuel the future of car buying and selling during NADA Show 2025, the National Automotive Dealers Association’s annual convention, in New Orleans. As noted in its forecast for 2025 , Cox Automotive is expecting further industry growth in the year ahead.
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