Auto sales racing toward Canadian record

New car sales surged again in October as the industry continues to race towards its best year ever, according to figures compiled by DesRosiers Automotive Consultants.

DesRosiers says Canadians bought 163,053 light vehicles in October, a 5.1 per cent increase over last year’s previous all- time high for the month set in 2014.

Last month was a particularly satisfying one for luxury nameplates, with Land Rover up 71.9 per cent, Porsche rising 45.4 per cent and Lexus up 29.4 per cent.

DesRosiers says other brands that enjoyed double- digit sales growth in October included Nissan ( up 24.4 per cent), Infiniti ( up 22.8 per cent), Honda ( up 14.7 per cent), Volvo ( up 12.3 per cent) and Subaru ( up 11.7 per cent).

Even Volkswagen’s recent woes over its diesel offerings didn’t appear to impact overall sales, as the German automaker posted an 8.3 per cent gain to 5,715 vehicles sold.

General Motors took the sales title for October for the first time since April, with a 5.8 per cent increase to 23,268 cars and light trucks. That was just ahead of Fiat Chrysler Automobiles, whose sales edged up 0.4 per cent to 22,384.

Among other major brands, Ford Canada sales increased 0.2 per cent to 22,080 vehicles, while Toyota Canada sales were up 4.2 per cent at 16,891 vehicles and Hyundai sales rose 4.4 per cent to 11,607.

By category, passenger car sales fell 9.6 per cent to 58,711 last month, but the decline was more than offset by a 15.7 per cent increase in light truck sales to 104,342 vehicles. “As we continue to close in on year end, setting a record year in 2015 is looking less like a possibility and more like a reality,” DesRosiers said.

Meanwhile, the U. S. is speeding toward what could also be a record year for auto sales.

Sales of new cars and trucks rose by double- digit percentages at most major automakers in October, and companies are raising their expectations for the rest of the year. Ford now expects total U. S. sales of 17.4 million this year, just topping the record of 17.35 million from 2001.

General Motors’ U. S. sales rose almost 16 per cent over last October. Ford and Toyota reported 13 per cent gains. Nissan sales rose 12.5 per cent over a year ago, and Fiat Chrysler’s were up nearly 15 per cent. Honda sales rose 8.6 per cent. Volkswagen, mired in an emissions- cheating scandal, posted a small gain.

U. S. sales rose 14 per cent to nearly 1.5 million, according to Autodata Corp. It was the best October since 2001, when zero- per cent financing offers after the Sept. 11 terrorist attacks pushed sales to 1.6 million, according to the LMC Automotive forecasting firm.

GM said sales have run at an annual rate of 17.8 million for the past six months, putting the year on track to break the annual record. And the pace likely won’t slow as holiday promotions begin.

“It’s going to be hard not to hit that record at this pace,” said Jeff Schuster, senior vice- president of auto sales forecasting for LMC Automotive. Schuster said the industry roared back from weak sales in the early months of the year.

Sales have been greased by cheap financing, low gas prices and an improving economy. Schuster said buyers are using the extra cash to buy bigger vehicles loaded with features.