November not only represented the thirteenth straight month of year over year gains in Canadian automotive sales but also was the largest percentage gain seen so far in 2023. PHOTO courtesy Stellantis.
Canadian automotive sales for November “crackled like a blazing fire on the hearth”, according to Desrosiers Automotive Consultants (DAC). That’s news that job shops serving the automotive sector can definitely warm up to as is indicates continued health for the sector.
Sales 20.7% to an estimated 138,747 units in November.
“November not only represented the thirteenth straight month of year over year gains but also was the largest percentage gain we have seen so far in 2023,” commented Andrew King, Managing Partner of DAC. “Improving vehicle availability and strong pent-up demand from a million units of ‘lost sales’ continued to overcome high interest rates and worrying recent economic downdrafts.”
To dampen the flames of joy just a little it should be noted that the monthly total was still below the pre-pandemic November market of 143,315 in the same autumnal month of 2019. The Seasonally Adjusted Annual Rate for the month came in at 1.82 million–the highest posted since March 2021.
On a year-to-date basis, the market has already surpassed 2022’s dismal total of 1.49 million units with December still to come. While 2023 is by no means going to be a record setting year for the Canadian automotive market, it does represent an important step in recovery.