Hey there, time traveller!
This article was published 1/11/2012 (1333 days ago), so information in it may no longer be current.
TORONTO -- Automakers in Canada had their best October ever, pushing industry sales up nearly seven per cent from a year ago and putting sales on track for what could be a record year.
Overall vehicle sales in Canada rose 7.8 per cent year-over-year last month to 135,476, compared with 125,680 in October 2011, according to DesRosiers Automotive Consultants.
"Indeed, this is the best October ever, beating the previous record from 2002 when sales climbed to 134,694 units," Dennis DesRosiers said in a commentary.
"This positive performance pushed the (seasonally adjusted annual rate) up to 1.78 million units, setting up Canada to see as many as 1.7 million units sold on a full-year basis."
DesRosiers notes sales have only broken the 1.7 million mark in one other year, 2002, when about 25,000 of those vehicles were sold to Americans buying because of favourable exchange rates.
"If you take these export volumes into account, 2012 could be the best year ever," he said.
Gas prices have been a key concern for cost-conscious buyers and that's helped push growth in the smaller, more fuel-efficient car category higher than in the truck segment.
Car sales were up 16.3 per cent in October, while truck sales grew at a slower 1.7 per cent pace. For the year, car sales were up 10.1 per cent, compared to 4.1 per cent for trucks. Still, more trucks have been sold than cars so far this year and truck sales comprise 54.4 per cent of the market.
Ford Canada claimed the title of Canada's top-selling automaker for the month and for the year so far, taking about 17 per cent of the market share year-to-date.
The Canadian division of the U.S. automaker said Thursday its overall sales grew seven per cent to 20,565 vehicles from 19,190 in October 2011, largely driven by a 17 per cent jump in car sales.
Truck sales were also up, with a five per cent increase over last October.
Among Ford's best-selling vehicles were the Focus, which marked its best October since 2004 with sales up 50 per cent, and the sporty Mustang, which saw sales more than double.
"The auto industry is a key engine driving the Canadian economy and it is showing strong, sustainable growth," said Dianne Craig, president and CEO, Ford of Canada.
"Fuel economy continues to be a key purchase consideration for consumers and we are offering them the power of choice with the EcoBoost engines, hybrid vehicles and plug-in hybrids," she said.
Since January, Ford's sales are up just slightly, 0.5 per cent over last year's sales to date.
Meanwhile, rival Chrysler Canada said sales increased 2.7 per cent in its best October since 2002, also marking its 35th consecutive month of year-over-year sales growth.
Chrysler said vehicle sales totalled 17,504 last month, up from 17,049 in October 2011. Increases in passenger-car sales drove the growth, up 15 per cent, whereas truck sales rose less than one per cent.
"Chrysler Canada has experienced tremendous passenger car sales growth throughout 2012," said chief operating officer Dave Buckingham.
Meanwhile, DesRosiers reports sales at General Motors fell 4.6 per cent to 18,651 vehicles sold, leaving it the only one of the big U.S. automakers with slower sales this year. Still, it managed to squeeze out Chrysler as the number two player in the month, though Chrysler still claims that spot on a year-to-date basis.
Meanwhile, foreign nameplates continue to gain traction against the Detroit players and now hold about 55 per cent of market share.
Sales at Japanese automakers ramped up as they continue to benefit from a return to full inventory after months of playing catch-up following the earthquake and tsunami last year.
-- The Canadian Press