Sales of new vehicles in Canada are up just a smidge compared to one year ago, but not enough to give hope for a better year ahead, according to DesRosiers Automotive Consultants.
Estimated sales by the group came in at 91,411. That’s just 0.6 per cent from 2021. It would appear chip shortages are still leaving their mark on dealerships.
“January is usually the lowest sales month of the year and has limited impact on overall annual sales but it is clear that, at least for now, the discrepancy between market demand and market supply persists,” observed Andrew King, the consultancy’s managing partner.
When looking at the seasonally adjusted annual rate, considered to be the important tell of what lies ahead for vehicles sales for the year, that number is at just 1.66 million. Light vehicle sales in Canada finished at an estimated 1,638,398 units last year. So while an improvement, it’s not much of one.
“We will wait with interest to see if February can bring us a third consecutive month of an increasing SAAR, or whether this was yet another false dawn,” DesRosiers’ analysis said.