Canadian premium vehicle sales better than ever

Trevor Hofmann - CAP staff
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Crisis? What crisis? The folks that originally purchased the Supertramp album by the same name in vinyl are the very people buying up luxury cars in record numbers today, seemingly unaware that there's a global economic crisis going on. Not in Canada, you say? Certainly not a pity.

While brands like Audi, BMW and Mercedes-Benz are struggling in Europe as the continent grapples with a deep and troubling debt crisis, U.S. premium vehicle sales have been rebounding and Canadian luxury brands are experiencing their best sales ever. An interesting example of this growth shows the BMW 3 Series outselling the Honda Accord for the first time last year.

And this comes at a time when the minister of finance, Jim Flaherty is trying to persuade Canadians to get their personal debt under control (while simultaneously keeping interest rates low in order to spur on the economy) and a number of economic prognosticators are telling Canadians they'd better save for a rainy day because we too will eventually be affected when the U.S. and Europe are forced to stop merely printing money to boost their economies.

Of course, the majority of luxury car sales are taking place in our largest cities, Toronto, Montreal and Vancouver, but there's been a surge in other markets, particularly Regina and Saskatoon, due to strong growth in the Saskatchewan market. Alberta experienced similar growth during its oil boom years and is still a significant player.
©(Copyright Canadian Auto Press)

Topics: Acura, Aston Martin, Audi, Bentley, BMW, Buick, Cadillac, Ferrari, Fisker, Infiniti, Jaguar, Lamborghini, Land Rover, Lexus, Lincoln, Maserati, Porsche, Rolls-Royce, Volvo, Mercedes-Benz, Range Rover,

Organizations: Acura, Aston Martin, BMW Buick Infiniti Jaguar Land Rover Lexus Porsche Rolls-Royce Volvo Mercedes-Benz

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