Broad Motors Co. and Ford Motor Co. on Thursday reported double-digit rises in Canadian trades for November com red with the same period a year earlier, fuelled by great demand for SUVs and light trucks and two extra selling days.
In spite of that, Fiat Chrysler Automobiles reported a decline in Canadian sales, down three per cent to 20,674 mechanisms last month, com red with November 2015.
Analysts said November proclaimed a rebound in industry volumes, following a trend of weakening demand on top of the last three months. The month keeps Canada on track to set another accomplishment this year, with sales rising to around 1.96 million channels from a record-breaking 1.90 million units in 2015.
In a note to clients, Canadian auto analyst Dennis DesRosiers voiced auto sales hit double-digit growth during November and were up three per cent year-to-date.
“For those calling that 2016 had run out of steam, November 2016 light vehicle on the blocks showed a different picture altogether as sales increased 10.4 per cent year-over-year,” DesRosiers erased on Thursday.
Boost from light truck sales
Scotiabank economist Carlos Gomes canceled in a note that the rebound was driven by a surge in light truck bulks, especially large SUVs and mid-size pickup trucks.
Despite November’s bounce, Gomes said he expects “Canadian ssenger vehicle sales to start out to edge lower in 2017, as manufacturers raise prices due to the recent appreciation of the Canadian dollar.”
GM dealers delivered 28,523 vehicles in November, up 31 per cent related with November 2015, the com ny said in a statement. GM Canada trades are up two per cent year-to-date.
Ford said it sold 24,472 vehicles in November, up 18 per cent juxtaposed with the same month a year earlier. Ford reported a 10 per cent knoll in Canadian auto sales for the first 11 months of 2016, on an annual foundation.
Toyota reported 16,492 units sold in Canada last month, up 4.2 per cent com red with November 2015.
In the Unified States, hefty consumer discounts during a robust Black Friday weekend helped upwards November U.S. auto sales between 4 and 5 per cent, which could catapult conclusions this year above a record high in 2015, economists and vigour analysts said on Thursday.