After a red-hot start to 2024, cracks — or, more appropriately, a single pronounced fissure — are starting to form in the Canadian new-vehicle market.
DAC called the SAAR “disappointing.” “For the time being, pent-up demand continued to carry the new light-vehicle market as vehicle availability approached normalization, although there are increasing warning signs starting to appear in the market that are raising our level of concern,” said DAC Managing Partner Andrew King.
Karwel didn’t have March or first-quarter data compiled by press time, but he said the trend in those four key metrics has been consistent for months. “In October, November, December of 2023, we still had an elevated number of consumers buying their lease at the end of the term.” “Toyota Canada’s firm belief is that if you meet the needs of your customers, they may choose to make you No. 1.”