The latest report from DesRosiers Automotive Consultants shows a slight increase in new light vehicle sales in November.
The number of new vehicles sold in Canada reached 114,966 units in November, an increase of 4.1% compared to the same month last year. Year-to-date results for the past year show total sales below 1.5 million units, whereas in 2017, annual sales exceeded two million light vehicles.
That being said, the analysis predicts an upturn as the shortage of parts and vehicles to market looks set to gradually fade over the next year.
Progression of EVs
The number of registrations for electric and hybrid vehicles in Canada did relatively well in 2022. The report indicates that during the first half of the year, these sales increased by 7.2% overall in the country. The increase in these sales remains concentrated in Quebec (11.4%) and British Columbia (14.6%). This trend is expected to accelerate as manufacturers’ offerings grow and the network of charging stations expands.
On the automotive aftermarket side, replacement parts sales were up 10.8% in the first three quarters of 2022. Sales of parts, tires and accessories are outperforming pre-pandemic levels.