A message to our stakeholders
Adam Hill, |
Drew Collier, |
2023 was a year for LGM that gave us pause for reflection of our 25 years in business and to finally take some respite from the long effects of Covid-19. We are grateful to our employees and business partners for their ongoing loyalty and support. Together, we have much to be proud of, particularly knowing that our results have been earned with a social purpose mindset. It really becomes that much more satisfying to achieve greatness when you can do so with pride in your approach and enduring impact.
Industry new vehicle sales began its recovery towards pre-pandemic levels in 2023 with approximately 1.7 million light vehicles sold across Canada. There remains continued pent-up demand from consumers given that at least 1 million fewer vehicles were sold between 2020 and 2023. Despite higher interest rates, exciting new models that deliver fuel efficiency, feature-rich technology, improved safety and alternative powertrains became the center of attention for consumers needing an upgraded vehicle. In addition, Canada welcomed 471,771 new residents in the past year of which many would seek their own transportation hence driving new and pre-owned vehicle demand.
We take pride in the achievements of 2023 and wanted to express a heartfelt thank you to our valued partners, suppliers, and team members without which none of this would have been possible.
Click here to view our full 2023 Year-in-Review (English)
Cliquez ici pour accéder à notre bilan de fin d’année 2023 (français)
