New car sales total 1.948 million units for 2016.
The suspense is over, and the numbers are in: Canadian dealers set yet another sales record in 2016, with almost 1.95 units sold last year.
According to Carlos Gomes, senior economist with Scotiabank and AutoJournal columnist, “sales climbed to a fourth consecutive annual record, but ended 2016 on a weak note, with December volumes declining 3% below a year earlier.”
Despite the sluggish performance in December, he adds, full-year 2016 volumes totaled 1.948 million units, 3% above the previous year’s record.
Gomes ends his analysis with a sobering thought: “Purchases have consistently climbed to new annual records since 2013, but are likely to trend lower over the coming year, pressured by some deterioration in vehicle affordability.”