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New motor vehicle sales
The number of new motor vehicles sold fell 3.2% in February, after two months of very strong growth. New motor vehicle sales had recovered in December and January, following a downward trend in the second half of 2007.
According to seasonally adjusted data from the New Motor Vehicle Sales Survey, consumers purchased 149,439 new vehicles in February, down 5,003 units from the previous month. Almost three-quarters of this decline was in Ontario.
Looking ahead, preliminary industry data for March suggest that the number of new motor vehicles sold will remain relatively unchanged.
Truck sales slump in February
Sales of both passenger cars and trucks declined in February. Sales of new trucks (which include minivans, sport-utility vehicles, light and heavy trucks, vans and buses) slumped 4.7% to 68,811 units. This drop follows the sharp increase in sales in December that was maintained in January.
Note to readersSeasonally adjusted estimates of new motor vehicle sales have been revised for 2003 to 2007 to reflect an update in seasonal adjustment factors. Because of the constant evolution of seasonal factors, revisions can be more significant for some months of the year. However, the annual sum of seasonally adjusted figures corresponds to the annual sum of unadjusted estimates. The unadjusted series have been revised back to January 2006. |
After experiencing the strongest growth in 10 years in January, passenger car sales dropped 1.9% to 80,628 units in February. This was due entirely to a 6.0% decline in sales of North American-built passenger cars, of which 50,500 units were sold. Nevertheless, this decline followed a 24.3% increase in sales of North American-built cars in January. Sales of overseas-built passenger cars increased 5.7% to 30,128 units, continuing the strong sales observed over the previous two months.
Sales down in seven provinces
New motor vehicle sales decreased in all provinces with the exception of Newfoundland and Labrador, New Brunswick and Quebec. The largest decrease was observed in Ontario (-6.6%). Nevertheless, this decline was not enough to erase the strong advances observed in December and January.
Each of the western provinces saw declines in the sales of new motor vehicles. With a 5.6% decrease, British Columbia experienced the largest drop in this region followed by Manitoba (-5.4%), Alberta (-3.3%) and Saskatchewan (-0.8%). Trucks traditionally account for the majority of new vehicle sales in these provinces.
After rising by an astounding 18.1% in January, sales in Quebec rose for the third month in a row in February (+1.0%), reaching 40,395 units sold. Gains were also observed in Newfoundland and Labrador (+6.5%) and New Brunswick (+0.9%).
Available on CANSIM: table 079-0003.
Definitions, data sources and methods: survey number 2402.
The February 2008 issue of New Motor Vehicle Sales (63-007-XWE, free) will be available soon.
Data on new motor vehicle sales for March will be released on May 16.
For general information or to order data, contact Client Services (toll-free 1-877-421-3067; 613-951-3549; retailinfo@statcan.gc.ca). To enquire about the concepts, methods or data quality of this release, contact Mark Switzer (613-951-7137), Distributive Trades Division.
Table(s).