Canada 2023. Vehicle Market Surges 11.4% Following 5 Consecutive Lost

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Ford-Mustang_Mach-E_Rally-2024
Ford-Mustang_Mach-E_Rally-2024

Canadian auto sales reported a double-digit growth in 2023. Full Year sales were 1.69 million (+11.4%) finally up after 5 years of decline. Ford leads ahead of Toyota and Chevrolet.

Market trend and Outlook

The Canadian economy hasn’t performed well in the current year. Deloitte states: “One of the biggest surprises over the past year has been the resilience of economic growth in the face of aggressive monetary tightening. We finally saw some of the negative impact in the second quarter of this year, with real GDP falling by 0.2%. Over the near term, we expect the economy to continue to struggle in the face of high household debt, soaring interest payments, and stubbornly persistent inflation.”

The economic struggle hasn’t reflected yet in the country’s vehicle market, which in 2023 registered 1.69 million units sold (+11.4%). December grew for the 13th month in a row, reporting 134,971 new vehicle sales (+15.3%). 

Looking at cumulative data from 2023 brand-wise, the leader Ford decreases 10.8% in sales with 207,423 new registrations.

In 2nd place ranks Toyota with 196,261 sales (+12.0%), followed in 3rd by Chevrolet with 135,484 units sold (+18.4%).

The Korean manufacturer Hyundai ranks in 4th, with 115,668 sales and a 2.8% in year-on-year performance.

Honda maintains 5th with 112,535 sales (+22.5%), followed by GMC at 96,159 (+10.4%), Nissan -up 1 spot- at 85,170 (+20.0%), Kia -up 1 spot- with 84,768 units sold (+24.2%), RAM -down 2 spots- with 79,425 new registrations (-2.5%) and Volkswagen -up 2 spots- in 10th place with 63,757 sales (+35.8%).

Looking at specific models the Ford F-series is still the best seller with a 7.4% loss in year-on year volume, followed by the Ram pick-up down 0.6%.

Tables with sales figures

In the tables below we report sales for all Brands and top 10 Groups.

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