Richmond Hill, Ontario – The percentage of older vehicles and those of Korean origin are on the rise on Canadian roads, according to industry analyst Dennis DesRosiers.
A new report has found a 20 per cent growth in the number of vehicles 16 years and older over the last five years, and a 29 per cent growth in vehicles 5 to 10 years old. The oldest vehicles are found in Saskatchewan, with an average of 10.2 years, while the newest are in Newfoundland, at 7.7 years. “More vehicles are lasting to relatively old ages, and fewer are disappearing from the road at age or mileage levels that in past years marked the end of a product’s service life,” the report stated.
Light trucks, which are most popular in the prairie provinces with 56 per cent of total vehicle registrations, edge passenger cars in long-term durability overall.
Strong resource-driven economic growth in Alberta has fuelled vehicle sales, with 37 per cent growth in total vehicle registrations over the past five years. Ontario has the highest number of drivers and vehicles, but its vehicle registration growth rate has increased only 8 per cent since 2006, the lowest in the country.
Light trucks have grown from 41 to 45 per cent of the national fleet over the past five years, but Quebec has the lowest truck penetration at just 34 per cent. Quebecers buy the highest percentage of import-nameplate vehicles, at 56 per cent of all cars and light trucks in the province. Drivers in the prairie provinces buy the fewest, with just 28 per cent of registrations.
Among import nameplate brands (Europe, Japan and Korea), Korean models have had the strongest growth, with an increase of 82 per cent since 2006.