TORONTO – DesRosiers Automotive Consultants (DAC) says Canadian auto gross sales had been down almost 20 per cent in March in contrast with the identical time final 12 months, even because the auto trade had hopes for a spring gross sales pop.
The consultancy estimates that 140,460 new mild automobiles had been bought within the month, down from a 12 months in the past however up from almost 100,000 in February.
Greater than 330,000 mild automobiles had been bought within the quarter, down 12.7 per cent from 378,700 within the first quarter of 2021. The seasonally adjusted annual fee of gross sales got here in at 1.54 million for the month, a big drop from 1.92 million in March 2021.
Andrew King, managing accomplice of DesRosiers, says March’s steep gross sales decline was not sudden as a result of March 2021 was a “red-hot month.”
It was the final robust gross sales month earlier than the semiconductor shortages hit automakers and DesRosiers says the trade continues face provide points.
DesRosiers notes that there have been some vibrant spots within the luxurious facet of the market within the first quarter of 2022, with Porsche gross sales rising 28.6 per cent whereas Lexus and Audi had been up 5.7 per cent and 4.8 per cent, respectively.
This report by The Canadian Press was first revealed April 1, 2022.
