A month into the second half of 2023, DesRosiers Automotive Consultants estimates that 140,942 new light vehicles were sold in Canada in July among reporting OEMs — up 8.0% from the same period last year.
“Compared to the previous two months, which saw year-over-year sales increase an estimated 12.6% in June and 13.5% in May, July growth was somewhat muted,” said DAC in its update. “Nonetheless, with this latest increase the market has now seen its ninth consecutive month of year-over-year sales growth.”
According to the company, the Seasonally Adjusted Annual Rate (SAAR) for July 2023 came in at 1.55 million units, which falls below the figures seen in June — yet still well above May results.
“There is still significant ground to cover in order to return to pre-pandemic levels,” said DAC, noting that July 2019 new light vehicle sales clocked in at 173,519 units sold. This means July 2023 remains 18.8% behind the 2019 results. However, DAC also said the market continues to show promise beyond the spring selling season.
