February Canadian new-vehicle sales were some of the month’s worst in recent memory, according to DesRosiers Automotive Consultants (DAC).
Automakers sold an estimated 103,771, marking the second worst February sales performance of the last 10 years.
Monthly sales are an estimate now that so many automakers report only on a quarterly basis.
However, February 2023 sales did increase 5.1 per cent when compared with the same month last year.
And, sales momentum continues.
“The market has now achieved year-over-year gains in four straight months as the breadth of improved vehicle availability gradually widens, and consumer spending remains resilient,” DAC Managing Partner Andrew King said in a statement.
The seasonally adjust annual rate of sales for the month came in at 1.7 million units which King said is “broadly in line with the level seen in January.”
Global Automakers of Canada CEO David Adams, who represents the interests of overseas automakers in Canada, called it “two positive months to start off 2023.”
He said light-truck sales comprised almost 87 per cent of all new vehicles sold. That’s up a percentage point from the previous month.
HOW THEY FARED
There was a wide chasm between automakers still reporting on a monthly basis.
Honda Canada, for example, posted a 37-per-cent drop in total sales — including both Honda and Acura brand sales — down to 4,551 vehicles compared with the same month a year ago.
On the opposite end of the spectrum, Kia saw its Canadian sales climb 32 per cent to 15,632.
Neither automaker offered reasons for the significant swings.
Hyundai sales were up 3.6 per cent to 8,716 while its luxury Genesis brand saw its sales surge 69.6 per cent to 390.
Toyota Canada’s total sales were up 4.4 per cent to 12,033, but by brand, its luxury Lexus line did the heavy lifting, up 52.4 per cent to 2,050 while Toyota brand sales fell two per cent to 9,983.
