CANADA'S LEADING INFORMATION SOURCE FOR THE METALWORKING INDUSTRY

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CANADA'S LEADING INFORMATION SOURCE FOR THE METALWORKING INDUSTRY

CANADA'S LEADING INFORMATION SOURCE FOR THE METALWORKING INDUSTRY

Automotive market humming as vehicle sales increase sharply in October

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Total new light vehicle sales sold in Canada in October were up 20.0%. For the year thus far, the market saw an increase of 11.1% compared to the same time last year. PHOTO courtesy Stellantis.

For metalworking job shops and mold makers serving the automotive market, there were continued good news in October about the market’s growth.

New light vehicle sales among reporting manufacturers increased sharply across all of the provinces in October 2023, according to the monthly report Desrosiers Automotive Consultants (DAC).

The bulk of the provinces saw sales growth in excess of twenty percent when compared to October of last year. In percentage terms, Saskatchewan led the country with an estimated 26.3% sales increase for the month. Not to be outdone, the rest of the Prairie region also saw significant success with Alberta up 23.8% and Manitoba up 23.0%. British Columbia similarly outperformed the national average with an increase of 23.5%. Ontario came in somewhat below the national average with sales up 17.0% compared to the previous month. However, Ontario maintained the second largest increase for the year thus far at 12.3%, only outperformed by Alberta at a 12.6% increase compared to the same time last year.

Total new light vehicle sales among reporting manufacturers reached an estimated 145,957 units sold for the month, up 20.0%. For the year thus far, the market saw an increase of 11.1% compared to the same time last year. Andrew King, Managing Partner at DAC commented that “with remarkable growth in October capping off a 12-month streak of year-over-year sales increases, the automotive market also saw that success more evenly spread across the provinces as inventory shortages continue to gradually ameliorate.”

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