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Canadians buying more luxury cars than ever before

Posted Feb 24th 2013 6:00PM


Pundits around the globe can say what they will about Canadians and our mild and modest ways, but with luxury car sales stats on a serious upswing it's clear we are far more comfortable showing a bit of wealth than we used to be. Luxury car manufacturers have been doing gangbuster business over the last couple of years with the likes of BMW, Mercedes-Benz, Porsche and Audi posting numerous sales records throughout 2012.

The question is, what's the key factor in this sales jump? Selling more BMW 3-series than Honda Accords last year is a big deal, but there are clearly a number of factors at play. Urban centres like Vancouver, Toronto and Montreal are seeing consistently high sales numbers part of which, especially in Vancouver, plays on a still very strong real estate market, and a mostly unscathed economy when compared to our friends in the south.

Click here to see which brands top the list and hit the jump to find out which Canadian province has had the biggest spike in luxury car sales.

Related GalleryTop 10 best-selling cars in wealthy neighbourhoods
BMW X5Toyota CamryHonda AccordHonda CR-VVolkswagen JettaToyota PriusLexus RXMercedes-Benz C-Class

Of all places, the real surprise is Saskatchewan, whose booming economy has led to an increase in luxury car sales of nearly 12,000 units compared to 10 years ago according to a recent study by SGI. In an area where down-to-earth modesty prevailed, car buyers are becoming less and less modest about their position in life, and are more likely to step up and say "I deserve this."

With stats like this we wonder if the gang at AJAC got it wrong this year in naming the Accord the Canadian Car of the Year. Canada is no longer the Honda Accord nation, and we don't think there's anything wrong with that.

Luxury Car Sales Boost BMW


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Besides money is pretty good for a selected group of people in the resource industry or real estate, I think one of the main factors is the shrinking price gap between luxury and common brands
Often, you can get an entry luxury for aboou the same price as the top level trim of a Honda/Toyota. Plus, financing options are often more attractive with the luxury brands and maintenance are usually included for first few years.

So, the luxury brands just become a more attractive option all around.

February 26 2013 at 4:04 PM Report abuse rate up rate down Reply