Arts & Life
Canstar Community News
TORONTO - DesRosiers Automotive Consultants says Canadian auto sales dropped by 44 per cent in May, an improvement from the estimated 74.6-per cent decline in April when the COVID-19 outbreak first affected a full month of sales.
An estimated 113,224 new light vehicles were sold last month, up from 45,833 sold in April when sales were on par with the early 1950s.
Analyst Dennis DesRosiers says May's decline evokes some cautious optimism as "the first tentative shoots of recovery spring up from a badly damaged marketplace."
Sales dropped 48.3 per cent in March when widespread restrictions first went into place.
The three months easily eclipsed the previous record for a monthly drop of 27.7 per cent set in February 2009 amid the worst of the Great Recession.
The new light vehicle sales market may have begun the climb back to recovery as dealerships slowly reopened with reduced hours and appointment-only visits.
He says "a touch of optimism" for the coming weeks is warranted but the situation remains in flux and could still face additional challenges from the pandemic that forced a government-imposed lockdown.
This report by The Canadian Press was first published June 2, 2020.
Your support has enabled us to provide free access to stories about COVID-19 because we believe everyone deserves trusted and critical information during the pandemic.
Our readership has contributed additional funding to give Free Press online subscriptions to those that can’t afford one in these extraordinary times — giving new readers the opportunity to see beyond the headlines and connect with other stories about their community.
To those who have made donations, thank you.
To those able to give and share our journalism with others, please Pay it Forward.
The Free Press has shared COVID-19 stories free of charge because we believe everyone deserves access to trusted and critical information during the pandemic.
While we stand by this decision, it has undoubtedly affected our bottom line.
After nearly 150 years of reporting on our city, we don’t want to stop any time soon. With your support, we’ll be able to forge ahead with our journalistic mission.
If you believe in an independent, transparent, and democratic press, please consider subscribing today.
We understand that some readers cannot afford a subscription during these difficult times and invite them to apply for a free digital subscription through our Pay it Forward program.