2017 could be a 2.1 million unit year.
According to the July issue of Auto News Flash, published by Carlos Gomes, Senior Economist with Scotiabank, Canadian new car sales climbed 6.5% y/y in June, setting a record for the month and lifting the annualized sales pace to nearly 2.1 million units.
Light truck sales were strong, with a double-digit year-over-year increase, representing nearly 69% of the Canadian new vehicle market, up from 65% a year ago. “In particular,” Gomes added, “sales of pickup trucks surged 21% y/y, pointing to improving prospects for business investment, especially in oil patch. Nearly one-third of all pickup trucks sold in Alberta are bought for business purposes.”
David Adams, President of the Global Automakers of Canada added that we’ve seen record-breaking Canadian auto sales for the first six months of 2017. He pointed out that the 1,039,068 units sold through the end of June represent a 5.0% increase over the record sales that took place in the first half of 2016.
“Another record month in June is phenomenal,” Adams said. “The conditions remain positive for ongoing new car sales in Canada going forward.”