New vehicles sales drop for third straight month

[Summitric]

News

​

June 5, 2018 by Adam Malik

​

​

[h=1]Down again: New vehicles sales drop for third straight month[/h]

​

Canada’s year-to-date numbers are still up, but barely

Sales of new light vehicles fell in Canada again compared to the same month last year. May was the third consecutive month to post a year-over-year drop so far in 2018.In all, according to DesRosiers Automotive Consultants, 215,407 vehicles were sold in May, down 0.7 per cent from the last year’s number of 216,861. However, it’s still better than April’s numbers that saw 191,900 units sold.Canada’s year-to-date total sits at 836,522 new vehicles sold, almost 1,000 units ahead of the same point in 2017, according to DesRosiers. The difference was an unusually strong January, the company said.But that lead is set to evaporate quickly if the ongoing pattern of sales continues into the summer months.Sales of light trucks were – again – up, this time by four per cent. The category accounted for 147,337 of total sales while passenger car sales dropped 9.4 per cent to 75,172 units sold.American rollercoaster
Up and down is how the story goes south of the border and May was a positive month in the United States for new vehicle sales.After a down April, numbers bumped back up as sales rose an estimated 2 per cent in May.Despite pessimism around higher gas prices and rising interest rates, low unemployment and strong consumer confidence appear to have buoyed the market last month.“The U.S. economy remains on a favourable trajectory,” said Ford Motor Co. chief economist Emily Kolinski Morris during a media briefing call on June 1.Car sales are down 10 per cent, while SUVs are up 13 per cent, according to an estimate from Ford.RBC Capital Markets reported that the country is on pace for about 16.8 million sales in 2018. About 17.2 million vehicles were sold in 2017, snapping a seven-year run of year-over-year growth.​

 

[Halon60]

I will never buy a new vehicle again.

 

[LUCKY 7]

I will buy a new vehicle for sure. My wife has had 2 camry's in 27 years and did over 540,000 kms and counting on them so yes we have got our money's worth out of them and we didn't buy someone's else junk. We will be buying her a brand new Rav4 when the 2019's come out. It should be good for 14-15 years.

 

[snochuk]

I will buy a new vehicle for sure. My wife has had 2 camry's in 27 years and did over 540,000 kms and counting on them so yes we have got our money's worth out of them and we didn't buy someone's else junk. We will be buying her a brand new Rav4 when the 2019's come out. It should be good for 14-15 years.

We also keep vehicles 12-14 years.
Then the new issue not so big of a hit.
We have luckily not hit a lemon yet so we keep them long term.
Now as for the topic the economy is sucking so ya new sales is down.
New Canadians got ther vehicles last year.
They sure drive a lot of BMW Mercedes. Must be car pooling with three Muhammed Muhammeds in the same house.

 

[lilduke]

Bought 2 new trucks in May, doing my part to keep the industry a float.

 

[Bnorth]

Housing is going to chit in the two biggest markets in the country, that will have an effect on vehicle purchases.

 

[teamgreen]

Ive been looking for a new truck. I bought my 2013 F150 new, and it has every option minus a sunroof. Sticker was 54, and I got for 40 as it was the employee pricing. Looked at a Silverado 1500 yesterday and they wanted over 70g for it. All the prices seem ridiculous right now.

 

[NoBrakes!]

I Heard the new Denali half tons with the minimax and carbon bed could touch 100K....

 

[lilduke]

Was looking at cars today, not giving these Maserati's away either. haha

 

[LUCKY 7]

when I win the lottery tonight I will buy all three of them.

Was looking at cars today, not giving these Maserati's away either. haha

View attachment 210912

 

[neilsleder]

I Heard the new Denali half tons with the minimax and carbon bed could touch 100K....

Zero down and payments for ten years it’s easy to afford that truck!

 

[Bnorth]

Was looking at cars today, not giving these Maserati's away either. haha

View attachment 210912

Maserati's depreciate harder than a sled ridden by you. Look at used ones for $30k.

Zero down and payments for ten years it’s easy to afford that truck!

With interest you'd be close to $1000/month even then, fawk that.

 

[lilduke]

Maserati's depreciate harder than a sled ridden by you. Look at used ones for $30k.



With interest you'd be close to $1000/month even then, fawk that.

Yeah most toys do. Nice car, but what I really want is a Ferrari.
They seem to hold there value pretty good, most guys don't
Put
alot of miles on them though. I'd drive the thing every day lol

 

[Trukker]

Yeah but you can rock out to Joe Walsh in your Maserati

 

[lilduke]

Yeah but you can rock out to Joe Walsh in your Maserati

Who's joe Walsh? Haha is that the masarti song guy that looses his license doing 185?

 

[Bnorth]

Who's joe Walsh? Haha is that the masarti song guy that looses his license doing 185?

Yes also a member of the Eagles.

 

[Joholio]

https://g.co/kgs/FFHSrN

 

[Slim]

I will never buy a new vehicle again.

What he said.... Such a waste of hard earned cash.

 

[Cdnfireman]

What he said.... Such a waste of hard earned cash.

Depends how you look at it. If you tend to keep your vehicles for a long time and can factor depreciation out of the equation, buying new has its merits. Particularly now that in Alberta, it’s tough to find decent low mileage trucks on the used market. Prices here on decent used stuff is outrageous, making buying new often the more sensible option.

 

[Ronaha]

If you can get along with a $2000 Honda Civic that's the least you will ever lose a a vehicle, could probably even sell it for $2000 when your done with it and start the process over again.