Canadian new car/light truck sales set another record.
According to numbers compiled by Carlos Gomes, Senior Economist with Scotiabank and AutoJournal columnist, March sales in Canada advanced 7% above a year earlier, setting a monthly record.
“We estimate sales exceeded an annualized 2.1 million units last month,” Gomes reported, “lifting year-to-date purchases to an average of 2.07 million—the best three-month performance on record.”
Last month’s surge, says Gomes, was driven by double-digit gains for both light trucks and luxury models and highlights that Canadian vehicle demand is running more than 100,000 units above Scotiabank’s full-year sales forecast.
“While we expect some moderation from the torrid sales pace of recent months,” he added, “we will likely have to revise our full-year forecast higher in coming weeks.”