MID-YEAR CHECK-IN FOR AUTO SALES
B.C. now Canada’s third-largest market for year-to-date new vehicles sold
We’re halfway in and its already clear the country is on track for another record-setting year in new vehicles sales.
DesRosiers Automotive Reports says cross-country numbers for June were up 7.4 per cent over 2015. Year-to-date, total sales have jumped six per cent compared to 2015 — from 933.4 to 989.2 thousand vehicles.
B.C. sales are on fire. In June, B.C. numbers were up by 7.2 per cent from the same month last year, from 19,483 to 20,486 units.
Our province is now the thirdlargest market for year-to-date new vehicles sold, boasting an 8.4 per cent boost over 2015 at the beginning of July — from 102,129 to 110,663 vehicles.
Among these record sales numbers, a few trends are staying constant.
One is electric vehicle (EV) sales, which have been breaking records across the country. Though comprehensive numbers aren’t yet in, EV news website Green Car Reports predicts Canada may have sold more than 1,000 plug-in EVs for the first time, this past month.
The country’s previous bestever EV sales month was in March, with 957 plug-in units sold. This represented a full 0.55 per cent of new auto sales.
Finalized statistics available for the first quarter of the year show B.C. is off to a strong start.
As of March, according to research firm FleetCarma numbers, B.C. sales are almost twoand-a-half times 2015 numbers.
As a result, our province retains the crown it earned last year as the leader for per capita EV sales. This is partly due to the reintroduction of the Clean Energy Vehicle for B.C. (CEVforBC) program, which provides rebates of up to $5,000 for qualifying new electric vehicles and up to $6,000 for qualifying new hydrogen fuel cell vehicles.
The program has received more than $12.5 million in funding since December 2011. So far this year, British Columbians have saved more than $4 million on 869 vehicles. During June alone, B.C. residents got $550,000 in rebate dollars on 123 units.
Across the border, electric sales are also soaring.
FleetCarma statistics show June’s 15,075 sales broke the record for most American EV sales in a month. Overall, EV sales in the U.S have increased by 19 per cent when compared to this time last year.
Another constant trend is the steady climb of light truck sales. The segment, which includes SUVs, pickup truck and vans, grew by 13.9 per cent this June when compared to the same month last year.
Driving this climb are the usual suspects. A combo of continued low interest rates and steady low gas prices mean light trucks are still an economical choice, while a plethora of new models hitting the market with ever-evolving tech and other features give the segment an every-person appeal.
At the beginning of the year, some experts expected the auto industry bubble to break, leading to a numbers slump in 2016. However, despite a slight decrease in May, all signs so far point toward 2016 being Canada’s fourth consecutive record-breaking year for auto sales.
Blair Qualey is President and CEO of the New Car Dealers Association of BC. You can email him at bqualey@newcardealers.ca.