The Canadian new vehicle market remains on track for its best selling year as the industry reports the highest monthly sales for May 2015.
Consumers bought 197,937 new passenger cars and light trucks in May, up 1.1 percent from the same month last year. The seasonally adjusted annualized rate (SAAR) hovered around the 1.9 million unit mark, coming in at a very solid 1.88 million units in May. Year-to-date, sales are up 3.0 percent to 755,582 units.
The general theme is one that is similar to the previous month. The luxury vehicle market continues to gain momentum in May sales with multiple OEM’s reporting significant year-over-year percentage gains. Porsche (+31.1 percent), Mercedes-Benz (+28.4%), Audi (+26.2 percent), Land Rover (+24.0 percent), Infiniti (+22.3%), BMW (+20.3 percent) and Lexus (+13.2%) were the reporting luxury brands with double-digit gains.
FCA (formerly Chrysler) announced May sales of 31,617 units were its best sales in the history of the company. FCA also regained the sales lead from General Motors (27,462 units) last month. Both companies reported sales gains of 0.4 percent and 3.8 percent respectively year-over-year.
Ford sales dropped 8.5 percent to 29,043 units last month.