Frigid February Was a Good Month for Canadian Auto Sales
Several Canadian provinces just went through their coldest February on record, but this didn’t discourage vehicle buyers one bit. In fact, last month marked the best February sales for auto makers since 2008.
Brutal winter road conditions also meant increased numbers in automotive repairs last month, which is good news for anyone working in the field or looking to become a mechanic.
Sales of 109,248 new vehicles in February were up 3.2% from 2014’s numbers, almost matching January’s 3.4% improvement.
If you’re pursuing an auto career in sales (or learning about repair and maintenance) we’re sure you’ll find February’s numbers impressive. Read on to find out which brands ranked highest.
The Sales Race
FCA Canada (formerly Chrysler Canada) was February’s best-selling automaker, with a 1% sales increase over last year, extending its lead over Ford, who saw a sales drop of 7.4% in February.
General Motors came in third place with a 6.4% sales increase, with Toyota in 4th boasting a 19.1% improvement.
Coming in fifth was Hyundai, followed by Nissan – both of whom bumped Honda down a couple of spots who ended up at in 7th with an 8% decrease in sales.
Volkswagen had a big month and came in 8th (+26.2%), beating out Kia (-4.2%).
Honorable mentions include Mini (+ 96.8%), Mercedes Benz (+ 16.3%), Lexus (+16.1%), Acura (+14%) and BMW (+10%).
Canadians Keep on Truckin’
“Despite knowing that fuel prices will eventually go back up, consumers are continuing to embrace trucks when purchasing new vehicles,” says David Adams, president of the Global Automakers of Canada.
The Light truck category (which includes utility vehicles) dominated sales in February with an increase of 5.1%, compared to passenger cars sales going up only 0.2%.
The best-selling vehicle overall? The sturdy and reliable Ford F-series, which continues to be a top seller and broke record sales for the month of February. Trucks now account for a record 63.3% of the Canadian market. The Honda Civic reclaimed its position as Canada’s top-selling passenger car in February.
A Growing Economy
With February being such a strong month for Canadian automotive sales, what does this mean for the rest of the year?
With spring right around the corner, all the forecasts for sales and industry growth are looking great. According to several reports on the global auto industry, auto sales in Canada are going to top the record-setting pace they set in 2014. Last year saw encouraging improvement in Canada’s job market, giving more and more Canadians the opportunity to purchase vehicles. 2015 is showing the same forward movement for Canadians so far, even though our dollar is low and gas prices are high.
TD Economist Andrew Labelle had some positive predictions to make: “We fully expect auto sales to pick up in the months ahead. The labor market continues to add jobs at a healthy clip, while real personal disposable income growth over the past three months is the highest it’s been in two years.” That means more Canadians with money to spend on new cars, and more job opportunities for graduates pursuing careers in auto industry. Great news all around!
What other trends do you see unfolding in Canada’s auto industry for 2015?
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