Canadians drove car sales to their highest-ever levels, with 1.849 million vehicles sold in 2014. Dealers were especially merry at the end of the year, with certain automakers experiencing record December sales.
Of note, 2014’s pickup truck sales accelerated nearly 20% over 2013’s numbers (83,391 vs 69,788).
Despite repeated warnings about record personal debt levels, Canadians continued to feel good about their economic prospects. Earlier in 2014, Canada’s middle class usurped America’s as the wealthiest in the world. Automotive analysts are expecting the momentum to continue.
However, reduced oil prices could temper 2015, impacting resource-based provinces including Alberta and Saskatchewan. Real-estate values in petro-centres such as Calgary will become precarious as both head offices and workforces can expect downsizing. With analysts predicting oil prices at $40 (USD) per barrel, the Canadian Dollar is being slated for the 75-cent (USD) range.
Canada’s manufacturing sector will celebrate the lowered loonie, granting increased competitiveness against US manufacturing. Ontario is already banking on renewed interest by automotive manufacturers to continue production in the province.
The Numbers
Ford - 15.8%
22,625 - December
291,823 - 2014
Ford ends the year as Canada’s top automaker, a title held for five consecutive years.
Chrysler/FIAT - 15.6%
21,613 - December
290,004 - 2014
Ram is Canada’s second best-selling vehicle. Chrysler’s truck brand picked up record December and annual sales, of 8,324 and 86,590 units respectively.
General Motors - 13.5%
19,247 - December
249,800 - 2014
GM’s pickup sales hit a record year, with 90,005 trucks sold — a three percent gain over 2013.
Hyundai/KIA - 11.3%
10,897 - December
208,111 - 2014
Toyota - 9.9%
10,906 - December
183,286 - 2014
Honda - 8.3%
11,934 - December
152,893 - 2014
The Honda Civic continues its 16-year run as Canada's top-selling vehicle.
Nissan - 5.7%
7,330 - December
105,154 - 2014
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