Auto sales in Canada rise for fifth straight month

TORONTO – DesRosiers Automotive Consultants Inc. says auto sales rose 3.7 per cent in March from a year earlier for a fifth month in a row of gains.

The consultant says overall there were an estimated 146,000 light vehicle sales for the month among reporting companies.

Andrew King, managing partner at DesRosiers, says in the report that while the streak of rising sales is encouraging, there is a “decided lack of momentum” as the gains are relatively small and that the March rise is less than was seen in January and February.

DesRosiers says the seasonally adjusted annual rate of sales for March came in at 1.59 million, notably lower than the first two months of the year where the measure hovered around 1.7 million.

For the first quarter, DesRosiers estimates total sales of 348,000 units, up 5.2 per cent from 2022, with GM leading sales at 61,093 units for a 28.1 per cent gain from a year earlier.

It says sales volumes among automakers are seeing wide swings as inventory levels fluctuate, including a 38 per cent gain in sales for Kia in the first quarter and a 26 per cent drop for Honda.

Feature image by iStock.com/blackCAT