Canada Light-Truck Sales Soar in March; Not Cars
Executive Summary
Canada LV sales hit March peak, but cars remain in the doldrums.
Canadian dealers sold a record 187,380 new light vehicles in March at a rate of 6,940 on each of 27 selling days. That was up 3.1% from the 175,045 units sold a year ago at a 26-day average of 6,733.
The sparkling March performance came despite car sales remaining at a near 32-year low of 61,716 units, trailing only the 55,419 cars sold in same-month 1996. That was one step higher than the prior month, when February deliveries were at rock bottom for the period.
Although car sales rebounded sharply from February’s depressed 37,754 units, thanks in part to the extra selling day, they still trailed by 41.4% the record 109,401 units retailed in March 1988, which also had 27 selling days.
Despite higher fuel prices, Canadian buyers continued snapping up light trucks at a record clip, driving sales to a March benchmark of 126,466 units. That represents a 7.6% gain on prior-year’s 113,201 deliveries and bested February’s 85,003 units by 32.2%.
Back in 1988, when car sales were at an all-time March high, light-truck deliveries totaled just 48,713 units and comprised just 30.8% of the market that month, or less than half the 67.5% slice captured in 2017.
General Motors surged to the top spot in the March LV market, a complete reversal of the prior month and year-ago, when it ran third. GM’s light-vehicle sales were up 18.4% over the prior year.
FCA Canada slipped to second-place in March from first in February and March last year, while rival Ford remained in third place. FCA trailed year-ago by 1.8% and Ford by 2.5%.
Rounding out the top five positions, Honda jumped ahead of archrival Toyota into fourth position, from fifth the prior month and March last year.
Total LV sales in the first quarter were 420,787 units, a 4.6% increase from the 402,787 units sold in like-2016.
