DesRosiers Automotive Consultants estimates that February car sales in Canada increased, continuing the positive showing seen in January.
Total February 2020 sales settled at an estimated 123,375 units, a 2.1% increase from February 2019 when 120,891 total units were sold.
The firm cautions that while this may seem like the beginnings of a positive trend, January and February 2019 performances were “noticeably muted” and not an overly difficult benchmark to overcome this year.
“Aside from this, the first few months of the year do not necessarily dictate the market performance to come,” the company’s recent analysis suggest. “Looking forward, the coronavirus outbreak and its potential economic implications raise obvious concerns for the automotive market. A Bank of Canada rate cut appears guaranteed for tomorrow, but significant uncertainty remains as to how the automotive market will hold up in the critical spring sales months.”
The company points out that in line with the established trend, February 2020 passenger car sales struggled with an estimated 26,875 units sold for the month, falling behind February 2019’s sales of 30,124 units. A roughly six thousand unit increase in light truck sales proved to be sufficient in overcoming the losses in passenger car sales, and pointed the market upwards overall. An estimated 96,500 light trucks were sold, rising above the 90,767 unit figure recorded in the same time last year. Passenger car sales accounted for 21.8% of total monthly sales while light trucks claimed 78.2%.