August sales of new vehicles number came in at an uninspiring rate as supply issues continue to plague automakers.
Estimates from DesRosiers Automotive Consultants show “tepid” sales of 146,925 units, down 11.4 per cent from August 2020. When comparing numbers to August 2019, sales are down 19.2 per cent, a number the consultancy called “disconcerting” in a statement.
When looking at the seasonally adjusted number, that came in at 1.62 million units — that’s the second-lowest month of the year.
“The story for the month was variability in performance from one company to another driven by semiconductor-related vehicle shortages,” said Andrew King, DAC’s managing partner. “DAC estimates show that certain manufacturers did actually increase sales from August 2020, whilst others, hit hard by supply chain shortages, saw dramatic declines.”
The issues around semiconductors are forecasted to continue throughout the remainder of the year. That makes the year’s sales outlook questionable, the consultancy reported.
As a result of sluggish new vehicle sales, more used vehicles are being sold. Kia Canada, for example, noted its best-ever August for its certified pre-owned sales — 595 units were sold. The company sold 8,345 units of new vehicles.