Driving By Numbers: 10 fastest-growing auto brands in Canada in the first half of 2022
Picture a family of six sharing a large pizza for family movie night this Friday. Their appetites are similar, so every one receives a slice equivalent to one-sixth of the pizza. Just under 17 per cent.
Alas, one week later, pizza prices succumb to the pressure of inflation. The family downsizes to a medium pizza. Will every member of the family see fit to follow in last week’s method of fairness, slicing the pizza in equal sixths? Or will the hungriest teenagers try to grab more than their fair share of the smaller pizza in order to eat the same amount of pepperoni as last week?
The Canadian auto industry’s pizza pie is shrinking. No automaker wants to see its slice of that pie shrink relative to the slices cut for competitors, but this is a cut-throat business. Some of Canada’s best-selling automobile manufacturers evidently have a bigger appetite in 2022 than they did in 2021.
As Canada’s auto industry bounced back from the Great Recession of 2009, auto sales gradually climbed until automakers and their dealers began to expect roughly two million total new vehicle sales per year. The early impacts of the COVID-19 pandemic, however, caused Canadian auto sales to fall to 1.55 million units in 2020. Better than 2009, but 24 per cent off of 2017’s record pace.
And in that new normal, certain automotive brands are positively thriving. Which automakers are growing fastest in 2022? We paired market share figures from the first-half of 2021 and the first-half of 2022 to spot the biggest increases.