Growth in the premium and luxury car market is expected to continue as the Canadian economy recovers from the shocks of the pandemic and inflationary pressures of 2023 and 2024. The early part of the forecast period is likely to see stronger growth as the market completes its recovery, with growth expected to level off to more modest rates by the mid-forecast.
As the premium and luxury car market evolves, consumers are expected to increasingly demand advanced technology and connectivity features as standard offerings. Modern connectivity options, such as seamless integration with smartphones and advanced infotainment systems, are becoming non-negotiable for luxury car buyers, who expect their vehicles to provide cutting-edge technology.
The push towards sustainability and eco-friendliness is expected to further drive the adoption of electric and plug-in hybrid electric vehicles in the premium and luxury car market. With the Canadian federal government's mandate requiring that all new passenger vehicles sold by 2035 be zero-emission vehicles, the market is set for a significant shift towards electrification.
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Understand the latest market trends and future growth opportunities for the Premium and Luxury Cars industry in Canada with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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Passenger car vehicles providing exceptional comfort, aimed at the premium market and at drivers wanting a higher level of performance and handling or a vehicle that gives the impression of being capable of high-speed motoring. These cars are generally designed to appeal to high earning, status led consumers and generally retail at US$75,000 plus Example models include: Aston Martin, Ferrari, Jaguar, Bentley, Porsche, McLaren, Maserati, Rolls-Royce and Tesla
See All of Our DefinitionsThis report originates from Passport, our Premium and Luxury Cars research and analysis database.
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