Sales for February of new automobiles in Canada were way down compared to the same time one year ago.
DesRosiers Automotive Consultants reported that estimated sales for last month came in at 98,722 units. That’s a 12.4 per cent drop from February 2021.
“Unfortunately, much like the bobsled, light vehicle sales in February went sliding downhill,” its analysis said, prefacing its findings with commentary on the Winter Olympics and the bobsled event.
The consultancy did note that last February was a strong month. But the seasonally adjusted annual rate now sits at 1.62 million. Last year at this time, that number was at 1.85 million. However, the latest number is more or less in line with the pattern seen the last 10 months.
“Looking forward we will be watching the market closely in March to see if it can come anywhere close to the torrid pace of March 2021 when sales reached 175,186 units and the SAAR hit 1.92 million,” said Andrew King, DesRosiers’ managing partner. “March 2021 was the last strong sales month — after which the semiconductor shortage really hit the market hard starting in Q2 2021. We will be donning our spandex suits and watching closely.”