New-car prices skyrocketed over the past three years, but sales are still up, especially for these models and automakers

The Canadian auto industry’s kick-start to 2024 was, in a word, acceptable. Potential car buyers are facing high prices and high interest rates while dealing with rising costs in other aspects of life. Yet despite those headwinds, auto sales still managed to climb 14%, year-over-year.

Based largely on the fact that there remains pent-up demand following a three-year period in which auto sales were constrained by a pandemic and supply-chain crisis, there are plenty of automakers that are just now returning to traditional levels.

Or surpassing them.

Professional salesperson during work with customer at car dealership. — A salesperson hands over the keys to a new-car shopper at a dealershipPhoto by Getty

Whether manufacturers can sustain this level of demand with prices this high will, as always, continue to be a story of supply and demand. As supply constraints decrease and inventory accumulates, automakers will succumb to their competitive nature and suffer one of two outcomes: either sales will decrease as buyers look elsewhere; or prices will fall in order to maintain sales momentum.

For the time being, at least in the early stages of 2024, many brands and individual models have seen remarkable growth relative to the disappointment of early 2023. We’re highlighting the five highest jumps for auto brands (excluding brands that sell fewer than 1,000 units per month) and individual models (excluding vehicles that sell fewer than 500 units per month.)

These are the hottest auto brands and vehicles in Canada through during the first-quarter of 2024.

Models

5. Nissan Rogue, up 89% to 11,197

2024 Toyota Corolla Cross LE AWDPhoto by Jil McIntosh

4. Toyota Corolla Cross, up 102% to 3,735

3. Honda CR-V, up 114% to 12,606

2. Subaru Crosstrek, up 147% to 7,091

1. Subaru Forester, up 160% to 4,442

Auto Brands

5. Toyota, up 36% to 50,722

4. Nissan, up 49% to 28,048

3. Volkswagen, up 59% to 17,482

But the 424% surge in Golf sales, the 37% Jetta uptick, 20% Atlas increase, 54% Taos bump, 42% Tiguan growth, and the 114% ID.4 gain are noteworthy regardless.

Lunenburg Crescent Beach 2023 Honda CR-V Hybrid NS West 35 sWallcraft — Lunenburg Crescent BeachPhoto by Stephanie Wallcraft

2. Honda, up 70% to 27,579

1. Subaru, up 86% to 17,723

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