With just two weeks left in the year, Canada’s new vehicle market remains on pace for its first ever two million unit year. Through November, sales are up a very strong five per cent, on pace to easily eclipse the two million threshold for the first time ever in Canada.
“This is great news for dealers but also for the economy at large,” said Michael Hatch, Chief Economist for the Canadian Automobile Dealers Association. “New vehicle sales have been uniformly strong across almost the entire country this year, reflecting strong job growth and consumer confidence.”
Sales have been particularly strong in British Columbia, where they have grown b 8.6 per cent so far this year.
“This year will be the fifth consecutive record year for new vehicle sales in Canada, as consumers continue to respond to the best product value equation we have ever seen in the new vehicle market. Two million is a major milestone for the industry in Canada, and we look forward to 2018 with optimism for continued growth,” concluded Hatch.