DesRosiers says Canadian auto sales fell nearly 20% in March

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TORONTO — DesRosiers Automotive Consultants (DAC) says auto sales in Canada fell nearly 20% in March compared to the same period last year, even as the auto industry hoped for an increase in sales in spring.

TORONTO — DesRosiers Automotive Consultants (DAC) says auto sales in Canada fell nearly 20% in March compared to the same period last year, even as the auto industry hoped for an increase in sales in spring.

The consultancy estimates that 140,460 new light vehicles were sold during the month, down from a year ago but up from nearly 100,000 in February.

More than 330,000 light vehicles were sold in the quarter, down 12.7% from 378,700 in the first quarter of 2021. The seasonally adjusted annual rate of sales was 1.54 million for the month, a significant drop from 1.92 million in March 2021.

Andrew King, managing partner of DesRosiers, says March’s sharp drop in sales was not unexpected, as March 2021 was a “hot month”.

It was the last month of strong sales before the semiconductor shortage hit automakers and DesRosiers says the industry continues to face supply issues.

DesRosiers notes that there were bright spots on the luxury side of the market in the first quarter of 2022, with Porsche sales up 28.6% while Lexus and Audi were up 5.7% and 4.8 %, respectively.

This report from The Canadian Press was first published on April 1, 2022.

The Canadian Press

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