July marked the 17th straight month of decline in Canadian auto Sales. Sales of new vehicles dropped 1.7%. This fall comes after years of growth in the market and a new Canadian high of 2.04 million units sold in 2017. This brings the total seven month industry decline to 4.8%, as per the Automotive News Data Center.
Many experts did foresee this fall, as the numbers leading up and in 2017 were quite unsustainable. Out of major producers, here are some of the big guys numbers for July.
- July sales declined 9.4%.
- Canada’s most popular vehicle, the F-series, we’re down 1.8% or 13,862 units
- Escape sales were off 4.3%
- Sales jumped 17.8% largely due to the RAV4.
- RAV4 sales jumped 44% or by 5,936, making it the makers most popular vehicle
- Camry sales were up 19%, to 1,287
- Corolla sales saw a 4.6%
- Sierra minivan sales were up 25%, 1,520 units
- Lexus saw big jumps in their IS and ES, up 21% and 89%
- Overall volume down 12%
- Altima sales were down 61% to just 240 units
- Every nissan car posted sales decline of more than 24%
- Hyundai down 3.8%
- Kia down 1.2%
GM Canada made a statement “thirty days is not enough time to separate real sales trends from short term fluctuations in a very dynamic, highly competitive market”.
Ford said they will no longer be posting monthly results for the same reason.
With new car sales down, used car sales appear to be maintaining strength. More quality, high year used cars are entering the market. Chief economist for Cox Automotive explains that in fact, pre owned vehicles are the strongest part of the automotive market. A large supply of later model vehicles are becoming more affordable and attractive to consumers.
The slow in new car sales can also be attributed to a lower consumer and trade confidence with Canadians. Looming rumours of import taxes from the United States has a major effect on new car production and trade between the two countries. For these reasons, buying a used vehicle is becoming a better, more affordable option for Canadian consumers.
At S.A.S.S. Auto Group, we are the largest indoor pre owned vehicle showroom in the Guelph Auto Mall. We carry a large inventory of quality used cars Guelph. With simple financing, and free vehicle appraisals, there’s no reason to not come in and check us out. Consider buying a new used car for your next vehicle purchase.