So January wasn’t a fluke! New vehicle sales in Canada during February were up 11.2 per cent from the same month in 2011, backing up January’s strong start. And, for the second consecutive month, Chrysler outsold Ford and General Motors to retain first place in sales.
This wasn’t a case of there being low comparables last year either, for February’s sales were 10.1 per cent ahead of the past-five-year average for the month and, like January, second only to 2008’s in that period.
Perhaps even more important, the Seasonally Adjusted Annual Rate (SAAR) for the month was 1.73 million — the highest level since April 2008, according to DesRosiers Automotive Consultants.
Dennis DesRosiers cautioned that all is not necessarily as it is being reported. “The two worse months each year are January and February so be extra cautious at this time of year,” he said.
“Although sales were very strong in February, they still were not back to levels achieved in 2008 pre-financial crisis,” he added. “We still have a very long way to go.” Nevertheless, he concluded, “February was a very strong month.”
Year-to-date, total sales were up 13.1 per cent, and they’re 10.8 per cent ahead of the five-year average for the period.
As was the case in January, the market strength extended almost all the way down the sales chart, although the collective gains were greatest among the import nameplates.
Sales of import brands were up 15.5 per cent while those for the Detroit Three were up just 5.9 per cent, so the imports gained 2.1 per cent of share to claim 56.8 per cent of the market. Year-to-date, the import brands’ share is 55.7 per cent — 3.3 per cent ahead of last year — compared to 44.3 per cent for the Detroit brands.
Honda and Toyota regain share
Both Honda (+14.2 per cent) and Toyota (+33.3 per cent) clawed back more of last year’s losses in February, bringing their year-to-date shares up to 8 and 10.47 per cent, with year-over-year gains of 2.26 and 1.07 per cent, respectively.
Sales for both Honda and Toyota were ahead of their five-year averages (+2.2 per cent and +9.5 per cent respectively), suggesting some fundamental strength in their gains.
All that share increase came from Ford (-1.93 per cent share) and General Motors (-1.54 per cent share). Ford’s February sales were off by 3.8 per cent while GM’s were up 16 per cent.
Chrysler’s sales improved 8.1 per cent in February, compared to 2011,which was sufficient to maintain the sales lead for the month and the year-to-date — and to bump YTD share by 0.21 percent (to 16.10 per cent).
Other strong performances came from Land Rover (+52.6 per cent), Mini (+44.8 per cent), Suzuki (+32.1 per cent), Infiniti (+24.2 per cent), Kia (+20 per cent), Mercedes-Benz (+17.4 per cent), Audi (+16.9 per cent) and Nissan (+16.6 per cent).
While up in total numbers, Hyundai (+6.5 per cent) lagged the market for the month and the year-to-date (+8.7 per cent) and has given up 0.33 per cent of share, to 8.19 per cent, allowing Honda back into striking distance of regaining fifth place.
Along with Ford, Volvo (-17.3 per cent) and Jaguar (-18 per cent) were the only active brands to see sales decline in February, relative to 2011.
Passenger cars maintain strength
As was the case in January, the Japanese rebound and solid performance of European luxury brands helped boost passenger car sales more strongly than those of trucks, in contrast to the prevailing trend in 2011.
Passenger car sales were up by 17.1 per cent while truck sales increased by just 7 per cent.
Cars gained 3.2 per cent in share, year-to-date, compared to the same period last year. But cars still account for just 42.8 per cent of the market while trucks hold 57.2 per cent.
