Toronto, Ontario – Canadians will most likely buy at the lower or higher ends of the price scale, while better-educated buyers are more likely to reject a hybrid, according to a new report by data analysis company Generation5. The study, 2011 Canadian Automotive Predictions, gives the automotive industry insight into buyer intent and composition for the upcoming year.
The study predicts that 11.1 per cent of the 12 million driver households in Canada will buy or lease a vehicle in 2011, while a further 15.8 per cent are considering a purchase. Automotive purchases will become polarized next year, with purchases made at either end of the price scale; sales of vehicles under $10,000 and over $40,000 are expected to rise.
SUVs, sport coupes and sedans, and crossovers are predicted to increase market share in Canada, with all other vehicle types declining.
The study also predicts that 13.4 per cent of purchasers will buy hybrid vehicles, with another 23.1 per cent considering them. Interestingly, the study found that as buyer education levels increased, their likelihood of buying a hybrid dramatically decreased.