CANADIAN NEW LIGHT VEHICLE SALES - 2015 TO 2022

[Summitric]

 

[Summitric]

As with the preceding year, 2022 got off to a strong start with the January SAAR coming in at 1.67 million. Thereafter, things deteriorated rapidly however with the SAAR falling precipitously to its nadir in May before stagnating through the summer. The Fall has brought 4 consecutive months of growth which has the hopeful glimmers of optimism twinkling in our eyes. To be sure, it has been what we here at DAC have termed a U2 recovery – uneven and unequal – with huge disparities between manufacturers’ inventory recovery. However, we can but hope that 2023 breaks the trend of the last 3 years and provides the industry with a string of sales gains through the first months of the year.

In summary, new light vehicle sales totals from reporting manufacturers settled at an estimated annual figure of 1.49 million units sold, down 9.1% from the previous year and the lowest sales total since 2009. For December specifically, sales settled at an estimated 109 thousand units sold, up 5.5% from the 103 thousand units sold in December 2021.

Below are some of the highlights of 2022:

• Ford maintained top spot in terms of overall sales volume, reporting 240,325 units sold for the year, only slightly below their 2021 results
• In the fourth quarter, General Motors took top spot with 55,724 units sold, up 41.6% over their fourth quarter 2021 results
• Genesis noted a strong percentage sales increase for the year, with the brand’s sales growing by 25.8% over 2021
• June was the strongest sales month for the year compared to March in 2021 and September in 2020

 

[Summitric]