The light vehicle market has now seen 18 straight months of year over year gains – but momentum appears to be dissipating. PHOTO courtesy Honda.
Canadian light vehicle sales increased 14% in April to an estimated 164,000 units, Desrosiers Automotive Consultants (DAC) notes in its monthly report.
“While growth is always welcome, the April total was still well below the levels in excess of 180 thousand seen in April in the pre-pandemic years. The Seasonally Adjusted Annual Rate did show some improvement from 2023 but was still somewhat tepid at 1.68 million – broadly in line with March but a notable step down from the levels above 2 million seen in January and February,” the report states.
Andrew King, Managing Partner of DAC commented “As is often the case in unstable markets, corporate performance varied widely with some companies showing strong gains while others struggled. The market has now seen 18 straight months of year over year gains – but momentum appears to be dissipating and sales pulling back from the torrid pace seen at the start of the year.”
For more information and pricing on DAC’s detailed market forecasts by region, segment, and model contact Daniel Azarov at [email protected].
