How big the gap is between truck and car preferences

[Summitric]

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Canadian vehicle preferences continued to trend toward light trucks over passenger cars in 2023.

DesRosiers Automotive Consultants reported that the light truck segment outperformed passenger cars, with overall truck share breaking the 85 per cent mark for the first time.

For the year overall, light truck sales rose by 14.4 per cent, while passenger car sales saw a slight decrease of 1.6 per cent.

“The past year proved to be a successful one for new light vehicle sales, particularly in the final two quarters,” said Andrew King, DesRosiers’ managing partner.

The group noted that the Canadian automotive market experienced a notable upswing in 2023, with reporting manufacturers collectively selling an additional 175,000 units compared to the previous year.

The group also reported that most vehicle segments saw a boost in sales last year but one stood out from the rest: Luxury sport cars.

The compact SUV segment retained its position as the highest-volume category in the country. However, the most significant percentage growth was seen in the luxury sports car segment, surging 48.2 per cent in sales, DesRosiers reported.

Luxury sports cars, traditionally a small and fluctuating market segment, defied the trend of declining passenger car sales. Most models in this category recorded double-digit sales increases, with the Chevrolet Corvette and Nissan Z achieving particularly notable gains. The more mainstream sports car segment also experienced a substantial rise, with a 27.5 per cent increase in sales. Compact SUVs saw a 27.7 per cent sales growth over 2022.

Despite the overall market growth, six of the 19 segments reported sales decreases. The subcompact segment suffered the largest decline, dropping by 34.7 per cent, primarily due to the Chevrolet Spark exiting the market. Compact luxury cars also faced challenges with a 9.1 per cent decrease in sales compared to 2022. Small pickups saw a 7.8 per cent drop in sales.