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Learn moreFeb 2019
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Luxury cars continued to see strong growth over the review period, supported by a combination of trends, including the increasing household wealth of upper-income Canadians, the rising number of affluent immigrants, retiring baby boomers and low financing rates. In July 2018, Mercedes-Benz announced it had achieved its best ever performance in the first half of the year, with its GLC SUV (base price CAD45,900) and Coupé (base price CAD50,300) recording strong performances.
Whilst many car manufacturers saw solid growth in passenger cars, luxury SUVs continued to lead the category. SUVs have proved to be extremely popular with luxury car buyers in Canada.
Luxury electric cars are having an impact on the Canadian market, with more luxury models expected to be introduced in the country. Tesla currently sells its Model S and Model X, and launched its Model 3 (base price CAD45,600) in 2018.
Daimler was the leading player in luxury cars in Canada in 2017, with its Mercedes-Benz brand leading both value and volume sales. Mercedes-Benz offers a broad range of car models and price points which cater to a broad range of buyers.
Volkswagen was second in value and volume terms in 2017, primarily thanks to its Audi brand. Audi has consistently increased its sales in Canada, and its Q5 crossover remains its top-seller.
Car dealerships remains the leading distribution channel for luxury cars, even though the car-buying process has changed because of the internet. Most customers research their options on the internet and are informed about features and prices.
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Discover the latest market trends and uncover sources of future market growth for the Luxury Cars industry in Canada with research from Euromonitor's team of in-country analysts.
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Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.