Canada October 2024: Hyundai-Kia above Toyota Motor, sales up 8.8%

Hyundai Ioniq 5 sales are up 242.7% year-on-year.

Thanks to 2 extra selling data compared to October 2023, local consultancy Desrosiers Automotive estimates a Canadian new light vehicle market up 8.8% year-on-year to 162,000 units, leading to a year-to-date tally up 8.3% to 1,57 million units. More significantly, sales are now back to the pre-pandemic 2019 level. The SAAR this month is at 1.98 million, the third highest so far this year. DesRosiers estimates a full year 2024 market at 1.8 million, the highest since 2019.

Among OEMs still reporting monthly, Hyundai-Kia (+11%) overtakes Toyota Motor (-10.2%) with Honda Canada (+15.7%) in the best shape. Brand-wise, Toyota (-11.1%) is in difficulty unlike Honda (+15.3%) and Hyundai (+22.1%). Mazda (+24.9%) is the most dynamic ahead of Acura (+20.1%) with Subaru (+11.9%) also beating the market. Genesis (+8.7%) and Volvo (+0.6%) are also in positive but Lexus (-3.2%) falls.

Looking at models the Toyota RAV4 (-27.7%) is in freefall with its archenemy the Honda CR-V (+6.9%) faring much better but still below the market growth rate. The Hyundai Tucson (+43.2%), Honda Civic (+21.1%) and Hyundai Kona (+21%) are all very dynamic, as are the Hyundai Ioniq 5 (+242.7%), Elantra (+59.5%) and Toyota Tundra (+35.8%).

Previous month: Canada Q3 2024: Volkswagen, Mazda highlight market up 3.5%

One year ago: Canada October 2023: Volvo, Toyota, Kia help lift market up 20%

Selected October 2024 data for groups, brands and models still reporting monthly figures below.