Retail sales of premium and luxury cars look set to increase at a 9% CAGR at constant 2023 prices over the forecast period to total CAD22.6 billion.
Online sales are expected to play a more prominent role within premium and luxury cars in Canada over the forecast period. More shoppers have started buying essential items online, but they are also increasingly buying big ticket items like cars online too, with this trend set to continue.
Starting from the 2026 model year, Canada’s Federal Government has ordered that 20% of new passenger vehicles on sale are zero emission, with this figure rising to 60% by 2030 and 100% by 2035. As a result, electric cars are expected to grow in significance within premium and luxury cars over the forecast period.
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Understand the latest market trends and future growth opportunities for the Luxury Cars industry in Canada with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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Passenger car vehicles providing exceptional comfort, aimed at the premium market and at drivers wanting a higher level of performance and handling or a vehicle that gives the impression of being capable of high-speed motoring. These cars are generally designed to appeal to high earning, status led consumers and generally retail at US$75,000 plus Example models include: Aston Martin, Ferrari, Jaguar, Bentley, Porsche, McLaren, Maserati, Rolls-Royce and TeslaSee All of Our Definitions
This report originates from Passport, our Luxury Cars research and analysis database.
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