DesRosiers says Canadian auto sales dropped nearly 20 per cent in March

TORONTO – DesRosiers Automotive Consultants (DAC) states Canadian vehicle sales ended up down nearly 20 per cent in March in contrast with the very same time very last calendar year, even as the vehicle market had hopes for a spring product sales pop.

The consultancy estimates that 140,460 new mild motor vehicles had been sold in the month, down from a year ago but up from virtually 100,000 in February.

Additional than 330,000 light-weight vehicles were being sold in the quarter, down 12.7 per cent from 378,700 in the to start with quarter of 2021. The seasonally altered yearly amount of product sales arrived in at 1.54 million for the month, a sizeable drop from 1.92 million in March 2021.

Andrew King, controlling associate of DesRosiers, claims March’s steep profits drop was not unforeseen mainly because March 2021 was a “red-very hot thirty day period.”

It was the very last robust income thirty day period before the semiconductor shortages hit automakers and DesRosiers suggests the field continues experience supply challenges.

DesRosiers notes that there were some dazzling spots in the luxury side of the sector in the initially quarter of 2022, with Porsche product sales rising 28.6 for each cent whilst Lexus and Audi have been up 5.7 for each cent and 4.8 per cent, respectively.

This report by The Canadian Push was first posted April 1, 2022.