Canada’s Growing Appetite For Luxury Vehicles
While 2017 was a strong year for car sales across Canada with a record-breaking 2 million vehicles sold, some of the most remarkable data that has come out in the months following suggests that this growth is in part due to a more specific boom in the sale of luxury vehicles. Canada has not traditionally been home to a thriving luxury car market, but with sales of luxury vehicles remaining strong into 2018 it would seem that this is changing. Clearly, Canadians are being drawn like never before to the allure of famous brands like BMW, Audi, and Lincoln.
So what is driving this appetite? As with any other market, there are a number of factors behind this growth, but the return of marquee names might have something to do with it. Popular Greater Toronto Area Dealerships like Colony Lincoln in Brampton have seen a steady sales increase with the release of the tenth generation of the famous Lincoln Continental in 2017, numbers which are likely to continue with the launch of the hotly anticipated new Lincoln Aviator later this year, and when it comes to luxury vehicle sales, Lincoln can perhaps be seen as something of a test case.
Lincoln has consistently rated as one of Canada’s favourite brands, and as most car aficionados know, Lincoln has been one of North America’s premier luxury cars for more than half a century the first choice of everyone from presidents to movie stars. Its clean lines and classic beauty have put it ahead of the pack, and for many buyers, driving a Lincoln is like driving a piece of history.
But Lincoln has been most successful when it has been able to deliver its signature quality while staying in touch with the larger automotive trends. For example, after half a century of dominance, the Lincoln Continental was retired in 2002 during the luxury SUV craze that swept North America in the first decade of the century. Lincoln adapted to the changing market by developing new luxury SUV options like the Lincoln Navigator, which have gone on to become classics in their own right. Now that a resurgent nostalgia is creating a new market among younger generations for some of the great luxury cars of the past, Lincoln’s ability to capitalize on its classic brands is standing it in good stead — which might be why Lincoln boasts the highest rates of customer satisfaction for any automobile brand.
Naturally, there are other economic forces at play here as well, and there is no question that the recent uptick in the Canadian economy, tied with the Millennial generation’s growing financial stability, have a role to play in driving sales. There has always been a market for luxury vehicles in high-income segments of society, and with the number of affluent Canadians growing, it is not surprising that many of them are opting to invest in the best possible quality when buying a car. Still, it cannot be denied that companies like Lincoln have played their hand well in anticipating the needs of the market.