Unprecedented sales surge
Auto sales across the country have been zooming to unprecedented levels in recent years.
In fact, February sales of 119,201 new vehicles set a new record for the month, surpassing the mark last set in 2008. February sales were up 9.1 per cent from year-ago levels, almost matching January’s 9.6 per cent improvement and fueling speculation about another record year.
As has become the norm, sales of trucks, including CUVs and SUVs, accounted for all the February sales gains and more. Their sales were up 17.9 per cent.
Sales of new cars and lightduty trucks in Canada hit a record high in 2015 with 1,898,485 units sold. This is an improvement of more than 47,000 vehicles (2.5%) over 2014, which was another record year, according to DesRosiers Automotive Consultants.
There are many factors cited for this upturn: low financing rates, impressive new models with significant value-added technology, and pent-up consumer demand, according to Global Automakers of Canada president David Adams, as reported by Canadian Auto Dealer.
In Ontario, sales shot up 5.9% last year, reaching 760,521 new vehicles sold.
The numbers so far in 2016 suggest that new records will be set at the end of this year.