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The Canadian light vehicle market saw a significant rebound in 2024, with overall sales reaching an estimated 1.86 The year began with exceptionally strong sales in January and February, which DesRosiers credited to pent-up demand as consumers were finally able to purchase vehicles they had been waiting for. million units.
As new vehicle inventory continues to grow and sales slow, manufacturers and dealers are expected to offer higher incentives to keep cars and trucks moving off lots in 2025. These findings are part of Cloud Theory’s report On the Horizon: 2024 Review and 2025 Outlook that was released recently. New vehicle inventory reached 3.23
After years of shortages, dealership lots are now overflowing with vehicles, marking a significant shift in the automotive market as supply catches up with demand. Automotive data company Cloud Theory reported this month that new vehicle inventory was up 23 per cent in 2024. Now the lots are full.
Canadian consumers are moving toward affordability and practicality when shopping for vehicles, according to year-end data from AutoTrader. Economic challenges appear to be influencing decisions, with mainstream models taking precedence over luxury vehicles in both searches and sales throughout 2024.
The Canadian automotive aftermarket showed resilience in 2024, despite ongoing challenges, according to new survey results. 2024 was no exception with most aftermarket retailers seeing robust sales increases. 2024 was no exception with most aftermarket retailers seeing robust sales increases.
While there was a decline in new vehicle sales in February, the month was viewed positively by industry analysts. per cent drop from the same month in 2024. That puts the seasonally adjusted annual rate at two million vehicles. administration, in its announcement of Februarys sales data.
Despite a slight increase in trust, the majority of drivers remain wary of self-driving vehicles. According to AAAs latest survey on autonomous vehicles, only 13 per cent of U.S. drivers would trust riding in a self-driving vehicle. However, that is up from 9 per cent last year.
The used vehicle market is facing significant supply challenges and a course correction isnt expected for many years to come. Daniel Ross, senior manager of industry insights and residual value strategy at Canadian Black Book described the current state of the used vehicle market as a “horror story.”
While electric vehicles (EVs) continued to appeal to Canadian car shoppers in 2024, widespread adoption remains low, according to data from AutoTrader. The data revealed that search interest in EVs grew by nine per cent this year, yet still represents just eight per cent of total vehicle searches on the platform.
As the age of cars and light trucks continue to rise, vehicle odometer readings continue to climb, driving growth in the aftermarket for internal combustion engine (ICE) vehicles. According to Lang Marketing’s latest report, “Soaring Odometers Boost ICE Aftermarket,” light vehicles in the U.S.
This year marks a significant turning point in the journey of electric vehicles. Understanding these trends is crucial for aspiring mechanics and technicians specializing in hybrid and electric vehicles. 2024 is anticipated to witness more technological strides, enabling EVs to achieve substantially longer ranges.
The once-dominant domestic nameplates in the light vehicle aftermarket have seen a steady decline in the U.S. By 2024, domestic nameplates VIO will have dropped by more than 10 million over the past decade, despite the nations overall VIO increasing by nearly 40 million.
Despite ongoing economic challenges, Canadians are demonstrating resilience in their vehicle purchasing habits, according to new research from AutoTrader. While the economic landscape remains challenging, with high interest rates, gas and vehicle prices influencing decisions, Canadians are adapting.
While new vehicle sales have seen growth in the first quarter of 2024, there is a more nuanced story happening at the segment level. DesRosiers Automotive Consultants has found significant … The post Luxury, mass market vehicle sales diverge appeared first on Auto Service World.
While still high, prices for used vehicles trended downward over the last year. AutoTrader reported that January 2025 prices for used vehicles hit $36,899, down 5.7 Thats in comparison to new vehicle prices coming in at $65,317 that month, a drop of 2.9 Dealers are split on their primary sources of vehicles.
Power reveals a noticeable decline in vehicle dependability three years post-purchase, marking a concerning trend for vehicle owners across the U.S. The 2024 U.S. A recent study by J.D.
It’s been a strong run of year-over-year increases in the new vehicle sales market but one industry observer is concerned about how much longer the pace can continue as indicators point to an uncertain future. The seasonally adjusted annual rate (SAAR) for August 2024 reached 1.81 But will these good times last?
Canada’s run of 19 straight months of year-over-year increases in new vehicle sales came to an end in June. The 169,000 sales in June 2024 — dead even … The post Why there’s optimism as new vehicle sales streak ends appeared first on Auto Service World.
Many training sessions are scheduled for pros of all stripes, from solving vehicle issues, diagnosis strategies, selling strategies for service advisors and management advice for owners. The post Updates from AAPEX & SEMA 2024 appeared first on Auto Service World. You can also head to our Instagram page.
Canada’s goal of having electric vehicles (EVs) make up 60 per cent of new vehicle sales by 2030 is increasingly looking unattainable, according to the president of the Global Automakers of Canada, and its keeping his members awake at night. trillion committed to the transformation.
As auto mechanic schools see hybrid technology evolve, the automotive industry is shifting toward more sustainable, powerful, and efficient vehicles. One standout in the hybrid category this year is the 2024 Kia Sportage Hybrid. of torque for the Hybrid Electric Vehicle (HEV) version, and up to 261 horsepower for the PHEV model.
New vehicle sales for January 2024 were the highest they’ve been in the last couple of years, according to DesRosiers Automotive Consultants. Year over year, the gain was about 15 per cent as monthly sales went from about 98,000 in … The post Year starts strong for new vehicle sales appeared first on Auto Service World.
There has been a recovery in new vehicle sales, an important signal for the future of the automotive aftermarket. DesRosiers Automotive Consultants reported February 2024 new sales were the highest ever for the … The post Will new vehicle sales growth eventually drop off? But how much longer can it last?
Zero-emission vehicle sales in Canada reached record highs in the last quarter of 2024. According to S&P Global Mobilitys latest Canadian Automotive Insights , the countrys ZEV market continued its rapid growth in the fourth quarter of last year 2024, reaching a national penetration rate of 18.9 per cent for 2024, up from 8.8
Fast forward to 2024, and those numbers have flipped, with 62 per cent of new models earning a good rating and just 24 per cent rated marginal or poor. Automakers can boost a vehicles performance in this test with just some small software changes, Harkey explained. These easy tweaks can have a big impact on safety.
You can view the digital edition of the Winter 2024 by clicking here. Inside you will find the cover feature looking at what the Canadian electric vehicle landscape currently looks like. Third-quarter data showed an even bigger surge in EVs as new vehicle registrations.
The vulnerabilities of connected vehicles and the steps drivers and manufacturers can take to mitigate the risks. Types of automotive cybersecurity risks Todays smart vehicles increasingly rely on software, connectivity, and complex computer systems, opening them up to a range of cybersecurity threats.
It seems pent-up demand for new vehicles is dissipating and new vehicle sales numbers are reaching a level of concern. Canadian new light vehicle sales in May 2024 reached 169,000 units, according to DesRosiers Automotive Consultants.
Electric vehicle (EV) sales are continuing to grow, but the once-rapid pace of adoption is beginning to slow as the market reaches a new stage of maturity. last year and set new highs in the percentage of vehicles sold in Canada in 2024, including BEVs making up about 18 per cent of sales in December.
The Consumer Electronics Show (CES) 2024 has come and gone, leaving in its wake a plethora of innovations and advancements, particularly in the field of automotive technology. Here’s a recap of the most compelling automotive tech trends from CES 2024 for students and professionals in the field.
As the automotive industry shifts towards a more sustainable future, electric vehicle (EV) sales have become a key indicator of progress. Forecasts for 2024 remained optimistic, with EV Volumes predicting a 19.2% EV sales have faced some turbulence in recent years, causing many to question what’s in store for 2025. the previous year.
Employment in the motor vehicle manufacturing industry decreased by 1.8% The performance of the aftermarket sectors in generating employment was remarkable in 2024, said Andrew King, DesRosiers managing partner. compared to October 2023, bringing the total to 35,900. increase over October 2023, reaching 159,100.
A career as a mechanic offers a unique blend of challenges and rewards, providing the opportunity to work on cutting-edge automotive technology while ensuring the reliability and performance of vehicles that people depend on every day. Let’s explore some skills that would make you a strong candidate in 2024.
Whether discussing secure gateways or access to functions, software, and specifications on newly released vehicles, aftermarket diagnostic product developers such as Autel are always playing catch up to get that OE-only capability in the hands of our users. AutoAuth charges an annual fee of $50 per vehicle brand.
The automotive industry constantly evolves, with new designs, technologies, and performance capabilities pushing the envelope of what we expect from vehicles. For those considering automotive training, the 2024 Chevrolet Traverse stands out as a model that breaks the mold with its emphasis on safe, family-friendly transportation.
Rotary Solutions, part of Vehicle Service Group (VSG), a Dover company, has released the Rotary R1250 Leverless Tire Changer. The post Rotary Solutions Debuts R1250 Leverless Tire Changer at 2024 SEMA Show appeared first on Brake & Front End. To watch a demonstration video of the R1250, click here.
If you’re aspiring toward a career in automotive technology, chances are that a beautiful, high-performing luxury vehicle would turn your head. Explore the exclusive 2024 Aston Martin Valhalla. Bringing Superior Hybrid Technology to the Luxury Vehicle Space The 2024 Aston Martin Valhalla has been designed to utilize hybrid technology.
However, it’s worth pointing out that this same vehicle was sold to its former owner back in January of 2024 for $74,000. The car just exchanged hands at auction for $60,500. They then proceeded to drive it approximatel. continue reading. )
BizzyCar released their Q4 and Year-End Recall Report noting the dominant recall trends that closed out 2024. While 2024 saw a notable decline in recall numbers (27 million) from 2023 (33 million), when factoring in un-repaired vehicles from prior years, more than one in four vehicles on U.S.
Due to significant economic changes in recent years, you may wonder whether service advisor training is the right decision for you in 2024. The main objective of the automotive service advisor role is to act as a liaison between customers at an automotive repair shop and the technicians who work on the vehicles.
Transport is an essential human need, so vehicle purchases remain constant even as car prices soar. As we welcome in 2024, the automotive industry remains a powerhouse, and the need for skilled technicians is higher than ever. On a global scale, the automotive industry is one of the most critical sectors of a country’s economy.
SKF announced it has partnered with EPWR, a part of the PWR Group, to support 2024 season of The Scandinavian Touring Car Championship (STCC). Each vehicle will feature technological inputs from SKF, a supplier of advanced technologies for motorsport championships including Formula 1 and NASCAR.
In this blog, we’ll examine some of 2024’s best-looking electric vehicles, giving you a glimpse into the stunning designs setting new standards in the EV market. Lucid Motors has made a bold entrance into the EV market with the Lucid Air, a vehicle that redefines luxury in electric mobility. Contact ATC Surrey to learn more!
It’s a meticulous process that involves cleaning, restoring, and finishing a vehicle to achieve a show-ready level of results. It requires a keen eye for detail, a steady hand, and an unwavering dedication to restoring and preserving the beauty and integrity of vehicles. The opportunities in auto detailing are vast and rewarding.
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