Canada January 2024: Subaru (+85.6%), Honda (+57.9%) impress in solid market

Subaru Crosstrek sales climb up 140.8% in January.

According to data by local consultancy DesRosiers Automotive, the Canadian new light vehicle market is up a very solid 14.9% year-on-year in January to 112,862 units. This is higher than pre-pandemic January 2020 (110,470). Notably the seasonally adjusted annualised rate of sales (SAAR) stands at 2.06 million, passing the 2 million milestone for the first time since February 2020. Among groups still reporting monthly figures, Toyota Motor (+20.7%) is in excellent shape as is Honda Canada (+43.3%) with Hyundai-Kia (+11%) a little shy. Brand-wise, Subaru (+85.6%) posts the largest gain, with Honda (+57.9%), Mazda (+42.4%), Toyota (+29.1%) and Kia (+23.9%) also very strong.

As for models with monthly results available, the Toyota RAV4 (+37.4%) and Honda CR-V (+72.2%) fare splendidly, but the Subaru Crosstrek (+140.8%) posts the best improvement near the top, with the Subaru Forester (+139.4%), Toyota Tundra (+112.3%) and Kia Sportage (+107.2%) also more than doubling their sales year-on-year. Notice also the Toyota Corolla (+43.1%), Hyundai Kona (+52%), Honda Civic (+43.7%), Kia Seltos (+75.4%) and Mazda CX-5 (+47.3%) all excelling.

Previous post: Canada Full Year 2023: Ford F-Series #1 for 15th straight year, Toyota RAV4 threatens Ram Pickup for #2

One year ago: Canada January 2023: Lexus, Kia shine in market up 7.5%

Full January 2024 sales for selected groups, brands and models below.