TORONTO — DesRosiers Automotive Consultants Inc. says new car sales in November soared 20.7 per cent compared with last year, as vehicle supply improves.
Andrew King, managing partner at DesRosiers, says November saw the largest percentage gain in sales so far this year.
Automakers sold an estimated 138,747 new vehicles last month. Sales totals are estimates because so many automakers now report sales only on a quarterly basis. Ford reports only annually.
The most recent DesRosiers data shows car sales continued to defy affordability woes and high borrowing costs, with November marking the thirteenth straight month of year-over-year gains.
King says improving vehicle availability and strong pent-up demand from the pandemic are continuing to fuel sales.
However, he adds the monthly total for car sales was still below the pre-pandemic November market. Sales in November 2019 totalled 143,315.
King says this year's car sales have already topped 2022 levels, even with December sales yet to come, pointing to an important recovery since the COVID-19 pandemic.
According to the Automotive News Research and Data Center in Detroit, Mazda was the biggest gainer among those still reporting monthly totals in November, with sales up a whopping 61.2 per cent to 4,943 units when compared with the same month a year ago.
Acura sales shot up 58.1 per cent to 1,1121 and Toyota climbed 39.6 per cent to 18,273.
The only brand to post a loss was Kia, down 10 per cent to 5,823. Kia was one of the brands to best whether the COVID-19 pandemic and the inventory shortages it created.
Every automaker is set to report their 2023 sales totals between Jan. 2 and 10, depending on the brand.