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Canada March/Q1 2024: Toyota overtakes Ford to #1 brand, Subaru (+85.8%), Honda (+70.3%) stand out

The Subaru Crosstrek (+147%) ranks inside the Canadian Q1 Top 10.

After breaking records in February with sales up 24.4% year-on-year, in March the market falls back to more reasonable growth rates at +9.2% to 159,000 units according to local consultancy DesRosiers Automotive. The Seasonally Adjusted Annualised Rate of sales (SAAR) stands at 1.74 million units which is the lowest in 6 months. The Q1 volume is up 15.3% over the same period a year ago to 401,000 sales.

In the groups ranking, General Motors (+3.3%) stays on top despite markedly growing at way slower rate than the market. In contrast Toyota Motor (+28.5%) is in excellent shape, but Hyundai-Kia (+5.9%) and Ford Motor (+6.4%) disappoint. Nissan/Mitsubishi (+37.7%) and Honda Canada (+58.7%) shoot up as does the VW Group (+27.1%). Stellantis (-19.8%) is in a rut.

Toyota (+36%) steps into the brands pole position, toppling Ford at an estimated +6.5%. Chevrolet (+4.9%) remains in the third spot while Nissan (+48.9%) is up three ranks on its FY2023 ranking to #4. Honda (+70.3%) does better alongside Subaru (+85.8%). Below, Volkswagen (+58.8%), Mazda (+20.2%) and Mitsubishi (+19.5%) stand out. Also, encouraging results for Buick (+31.4%) not used to such gains.

Model-wise, the Ford F-Series (+5.6%) holds onto the top spot while the Toyota RAV4 (+23.5%) overtakes the Ram Pickup (-20.7%) to snap the #2 ranking. The GMC Sierra (-4.4%) and Chevrolet Silverado (-2.1%) camp on their FY2023 rankings #4 and #5 respectively despite slow volumes. The rest of the Top 10 is euphoric, with the Subaru Crosstrek (+147%), Honda CR-V (+113.7%), Nissan Rogue (+89.2%), Honda Civic (+65.8%) and Hyundai Kona (+53.7%) all scoring outstanding results.

Previous month: Canada February 2024: Record market up 24.4%, SAAR at highest in 6 years

One year ago: Canada March/Q1 2023: Toyota RAV4, Ford F-Series shine in market up 5.4% over Q1

Full Q1 2024 Top 15 groups, Top 45 All brands and Top 297 All models below.

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