Canadians are purchasing Sports Utility Vehicles faster than they are being developed. These types of vehicles, including hatchbacks and crossovers, are quite popular among people. They’re quite “in” for the automotive industry, and even major police forces are opting for them instead of traditional cars. Aside from the updated luxury look and more space, what’s with the change in this recent buying trend? Here are 3 reasons why SUV sales in Canada are breaking the records:
Interest Rates are Low
The rise in SUV sales has prompted the automotive industry to offer a lot more incentives and deals for consumers. Low interest rates on new SUVs have pushed Canadians to buy, and the lower fuel costs in Canada have made owning these cars more practical, as less is spent on filling up and more is spent on the initial purchase. A recent study published shows that when the cost of gas plummets, more consumers shift to buying larger vehicles. The combination of this with low interest rates means that more people can see SUV falling in their budget.
Whether it is single adults or busy families, Canadians love their SUVs for the practical features that they offer. They fit well with baby boomers and millenials: a higher and smoother ride, enough space in the vehicle while still maintaining a compact image, new technology like backup cameras and automatic emergency braking systems, and the appeal of towing capacity for those who want it. These are just a few of the reasons why SUVs stand a better chance at meeting our changing Canadian needs.
Better Designed Models
The acronym “SUV” translates into any model of vehicle that has all-wheel drive and raised ground clearance. However, an SUV today is studded with features that expand way beyond its original definition. Before, people perceived SUVs as vehicles with poor gas mileage and a size that was unnecessarily large. However, automakers have completely redesigned its entire concept, turning it into an efficient vehicle that shows high quality performance and looks like luxury.
Canadian’s are gradually shifting from the classic family minivan. Equipped with the latest technology, new SUV models offer a compelling option for consumers at all income levels. No longer restricted to adventure seekers, SUVs are becoming more attractive to people who are looking for comfort at the wheel, features that make room fo safer and smoother maneuvering through Canada’s intense seasonal changes, and higher seats for a clearer view of the road ahead. The next time you are on the drive, look around and see how many SUVs are on the road compared to traditional cars – you may be tempted to be part of this national trend.
If you are looking to get behind the wheels of an SUV and also build your credit with it, let Canada Auto Experts help you. Call 1-855-550-5565 today to talk to a car loan/credit specialist.