Toronto, Ontario — New data from AutoTrader reveals a shift in consumer auto preferences away from luxury models and toward more practical and affordable options.
Specifically, according to AutoTrader’s study, at the same time the company’s marketplace reached record heights in the year, “luxury brands saw their lowest representation in both searches and sales since 2019.”
The study continues that “perennial favourites, such as the Ford-150, Toyota RAV4 and Honda Civic remained the top searched and top sold vehicles in 2024, while there were no luxury nameplates on the top sold list for the second year running.”
Additionally, mainstream vehicles, such as the Toyota Corolla, Ford Escape, Hyundai Elantra and Hyundai Tuscan made their way onto the top-sold list for the first time.
When looking at a provincial breakdown, however, Ontario’s 2024 top search list showcases a more balanced mix of luxury sedans, performance cars and SUVs than in other provinces, with fewer trucks making an appearance.
Contrastingly, when looking at British Columbia, the province’s top search list instead “reflects a noticeable shift away from luxury vehicles, with only three luxury models appearing on the 2024 list—down from five last year.
Furthermore, for both Alberta and Saskatchewan, trucks remained dominant choices, while in Quebec, the Honda Civic continued to maintain its position as the top choice in the province.
Finally, for Manitoba and the Maritimes provinces, data shows an increasing preference for larger vehicles.
And, when considering electric vehicle adoption, search interest in EVs grew by nine percent but accounted for just eight percent of total vehicle search volume on the site.
For more information from AutoTrader, click here.
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