2017 was a great year in Canada for automotive sales. We saw sales surpass the 2 million marker for the first time ever in a calendar year. We also experienced record breaking months. From May 2017 to October 2017, new monthly records were recorded consecutively, breaking each particular months historical record.
November 2017 fell just short of setting a record for the 7th consecutive month, with a slight decrease from November 2017 (-1.2%). With that being said, November 2017 still had the second highest sales volume for the month of November.
In fact, there were only three months of the year which did not beat sales records from the previous year (April, November, December).
After analyzing this automotive data, it was interesting to look at each month by its sales numbers. By far, January has historically been the worst month for automakers in terms of sales. Even though January 2017 saw an increase from January 2016 (+2.2%), the total number of sales for the month was 110,900 – which is about 13,300 less than the second least selling month (December).
So who are the big winners and losers from 2017? Below is a chart that breaks down vehicle sales from all the major manufacturers:
|YTD Sales||YTD Market Share|
|Auto Maker||2017||2016||YoY Change||2017||2016|
|Fiat Chrysler Automobiles||267,052||277,445||-3.70%||13.10%||14.20%|
|Light Vehicle Sales||2,038,798||1,948,895||4.60%||100%||100%|
The lines highlighted above in green text represent the top 5 automakers in terms of their market share. Below, we have shown the top 5 auto makers ranked in order on their market share by vehicles sold.
Ford continues to dominate the market share at over 15%. GM has overtaken FCA for the number 2 spot from a year ago, and the two Japanese power houses Toyota and Honda hold the 4th and 5th spot respectively.
|Auto Maker||Vehicles Sold||Market Share|
|2. General Motors||302,826||14.90%|
|3. Fiat Chrysler Automobiles||267,052||13.10%|
So what will the future have in store for automotive trends in 2018?
If the market continues to shine in Canada, we can expect new records, and more vehicles sales.
Will light trucks (Trucks, SUVs, Cross-Overs, Vans) continue to dominate the market? Some experts believe that the rise in light trucks is a result of volatile gas prices. If gas prices go up, the increased amount of light truck purchases will probably go down since they are less fuel efficient. Over the past 10 years, gas prices have risen and fallen at a sporadic rate.
On my way to work this morning, I did an eye test to see what types of vehicles were mostly on the road. I know this can vary in each city, highway, location, time of day, etc, but 4/5 vehicles were light trucks, mostly SUVs. They definitely seem to be the popular choice for vehicles in the GTA region.
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