(RICHMOND HILL, ON) – New vehicle sales in July 2017 saw another year-over-year increase, making it the best July in the history of Canada. This is the third consecutive month of record setting sales in a year where six out of the seven months on paper have been record setting months.
For reference, an average of roughly 146,000 vehicles needs to be sold each month for the remainder of the year in order to meet last years end total of 1.95 million new vehicles. To reach 2 million units sold, this monthly average goes up to roughly 156,000 vehicles per month.
While these are not insurmountable monthly figures, the current state of the market in Canada continues to be in contrast with the US where the market has seen its 5th consecutive decline in year-over-year comparisons. Time will tell if these two paths continue to diverge or if some of the issues affecting the US market see themselves manifest locally.
At 181,834 new vehicles sold, July 2017 represented a 4.9 per cent increase over July 2016 at 173,304 units.
Maserati (up 86.7 per cent), Volkswagen (up 37.9 per cent), Mitsubishi (up 29.9 per cent), and Audi (up 29.7 per cent) saw the biggest growth in July while GM (up 4,597 units), Volkswagen (up 2,148 units), and Honda (up 1,629 units) enjoyed the largest volume increases year over year.
Ford was the market leader in July with a total of 27,650 units sold, but reported a 7.1 per cent decline over their previous July (29,771 units sold).
From a year-to-date perspective, Maserati (up 163.9 per cent YTD) has observed the largest growth, albeit for a smaller volume, while GM (up 16.4 per cent YTD) has seen the largest increase in volume with a surplus of 24,981 units sold at this point in time, relative to the previous year.
In fact, this surplus represents approximately a month’s worth of sales for GM.