With the overall market up 175,000 units in 2023 (based on data from reporting OEMs), most vehicle segments are enjoying an increase in sales compared to 2022 — but one in particular led the competition in year-end segment sales last year, according to DesRosiers Automotive Consultants (DAC).
Canada’s highest volume segment remains the compact SUV category, but the largest percentage gain last year somewhat surprisingly came from the small and volatile luxury sports car segment. While significantly influenced by product life cycles, this category defied the trend of decreasing passenger car sales share and managed a 48.2% sales increase for 2023.
“The more mass-market oriented sport car segment also noted a significant increase of 27.5%, with compact SUVs slotting in-between thanks to a 27.7% sales increase over 2022,” said DAC in its news release.
Out of the 19 segments that make up the market, six experienced sales decreases. The largest decrease came from the subcompact segment, which was down 34.7% for 2023. With this, the industry saw the Chevrolet Spark leave the market. The other category is compact luxury cars; it experienced a 9.1% sales decline compared to 2022. And the small pickups segment was down 7.8%.
“The past year proved to be a successful one for new light vehicle sales, especially in the final two quarters,” said Andrew King, Managing Partner at DAC, in a statement. “Light trucks continued to dominate passenger cars as overall truck share exceeded 85% for the first time.”
Overall, light truck sales were up 14.4% in 2023 and passenger car sales were down 1.6%.
