AutoTrader report shows Canadians are buying vehicles practically

TORONTO — Data released from AutoTrader, an automotive marketplace, provided a revealing look at vehicle shopper preferences in 2023. In a year marked by economic turbulence and higher-than-ever vehicle prices, marketplace search data suggests vehicle buyers still hold an optimistic outlook.

Among AutoTrader’s Top Searched Vehicles of 2023, 60 per cent of the list comprises luxury sedans and sports cars. The Porsche 911 rose for the first time to the #2 spot nationally, up from #6 last year, moving the Honda Civic down one spot to #3. The Ford F-150 made its ninth appearance as Canada’s most sought-after vehicle and the Dodge Ram 1500 climbed its way back into the Top 10 – the second truck to break through since 2019.

While AutoTrader’s Top Sold Vehicles of 2023 includes many commonalities with the Top Searched Vehicles, this list is decidedly more practical in nature. Ninety per cent of the Top 10 vehicles sold in Canada according to AutoTrader are functional, utility vehicles, like trucks and SUVs, with not a single luxury brand appearing. The departure between the search and sold data sets, perhaps suggests that in a year where wallets are top of mind, Canadians may be interested in aspirational vehicles, but they are landing with more practical purchases.

“Each year, AutoTrader analyzes millions of data points to piece together an underlying narrative about consumer vehicle shopping behaviours and patterns,” says Ian MacDonald, Chief Marketing Officer, AutoTrader. “This year, we see vehicle buyers searching aspirationally, but ultimately opting for more practical purchases, which could suggest Canadians are maintaining an optimistic outlook, but prioritizing reliability and utility in a turbulent year.”