Motor Vehicle Retailers of Ontario (MVRO) CEO Todd Bourgon sat down with Tim Reuss, President and CEO of the Canadian Automobile Dealers Association (CADA), and had a good chat discussing the annual review as part of the MVRO Talks podcast.
In the discussion, Reuss said the market started getting back to normal and that the year would end up with positive market growth at around 8 per cent. He also said the total market is anticipated to come in at around 1.85 million units. Of those 720,000-750,000 will be from Ontario, with a market increase of about 5 per cent compared to a year earlier.
“Now, it is a tale of two halves, if you will, with the first half still being under a lot of supply constraints, and the second half a return to normality and a lot higher supply — by most manufacturers, (or all) manufacturers, and with some brands even oversupply, which is why you’re starting to see now also some programs being put on the marketplace again,” said Reuss.
He added that overall it’s been a positive year from a volume perspective for dealers. “A return to normality in most brands and in some brands even beyond normality, where they are now once again dealers with a few inventory issues. So that’s the tale of 2024.”
You can listen to the full podcast here.
