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May 16, 2024 by Adam Malik
April’s automotive sales in Canada displayed a mild rebound.
DesRosiers Automotive Consultants reported sales up 14 per cent to approximately 164,000 units. However, this improvement pales in comparison to the robust sales figures exceeding 180,000 units typically seen in pre-pandemic Aprils.
Last month’s seasonally adjusted annual rate (SAAR) of sales stood at a “somewhat tepid” 1.68 million, showing a slight uptick from the previous year but still lagging behind the over two-million high set in the earlier months of this year. April’s performance aligns with March’s results but indicates a downturn from the high pace experienced at the year’s start.
“April was far from memorable, registering as the weakest month this year from a sales perspective,” noted Andrew King, managing partner at DesRosiers. “Corporate performance varied significantly across the board. While some companies posted strong gains, others found the going tough. The market has enjoyed 18 consecutive months of year-over-year gains, yet there’s a clear slowdown in momentum, and sales are receding from the rapid pace seen earlier.”
Auto sales show modest recovery in April
However, DesRosiers’ numbers show a ‘clear slowdown’ as consumers aren’t yet returning to dealerships at pre-pandemic levelsApril’s automotive sales in Canada displayed a mild rebound.DesRosiers Automotive Consultants reported sales up 14 per cent to approximately 164,000 units. However, this improvement pales in comparison to the robust sales figures exceeding 180,000 units typically seen in pre-pandemic Aprils.
Last month’s seasonally adjusted annual rate (SAAR) of sales stood at a “somewhat tepid” 1.68 million, showing a slight uptick from the previous year but still lagging behind the over two-million high set in the earlier months of this year. April’s performance aligns with March’s results but indicates a downturn from the high pace experienced at the year’s start.
“April was far from memorable, registering as the weakest month this year from a sales perspective,” noted Andrew King, managing partner at DesRosiers. “Corporate performance varied significantly across the board. While some companies posted strong gains, others found the going tough. The market has enjoyed 18 consecutive months of year-over-year gains, yet there’s a clear slowdown in momentum, and sales are receding from the rapid pace seen earlier.”
