Demand tapers off slightly in November as Canada deals with surging COVID-19 cases.
During 2020, Canadian new vehicle sales have been on somewhat of a rollercoaster ride. Things got off to a good start in Q1, before the onset of COVID-19 which saw a plunge in demand during March and April.
Since then, we have seen a recovery, with demand picking up in May and remaining relatively strong through the summer and into the fall months of September and October.
As COVID-19 case numbers began to surge in the fall due to a second wave of the coronavirus and more regional lockdowns, new vehicle demand has started to taper off.
With that considered, DesRosiers Automotive Consultants (DAC) has estimated November 2020 new vehicle sales at 128,351 units, a 10.4% decline from the previous month.
“It was always apparent that the recovery in the market was never going to be in a straight line,” said Andrew King, Managing Partner at DAC.
With only a few weeks remaining until the end of the year, DAC predicts total new vehicle sales for 2020 to come in at just over 1.5 million units, which represents an overall 20% decline for the year.