Retail sales for used car dealerships in Canada fell below other major auto sectors, declining 11.5% in the first quarter of the year, according to DesRosiers Automotive Consultants (DAC).
That comes thanks to a 33.9% decline in March.
As for retail sales at new car dealerships, they may have started off strong in January and February — up 4.7% and 7.1%, respectively — but the impact of COVID-19 was felt in March.
“March brought about a 35.0% decrease with total sales falling from $11.19 billion to $7.28, resulting in a first quarter decline of 10.4% for 2020,” said DAC. “Automotive parts, accessories, and tire stores fared better with a 4.2% first quarter decrease and a relatively mild 10.4% decrease in March.”
Retail sales at gasoline stations declined 4.8% in Q1, with a 23.3% March decrease taking away the gains garnered in January and February.
“As the data for the second quarter becomes available, these retail sales figures are forecast to fall further still in April before starting the long process of recovery in May,” said DAC.
