Canada LV Sales Set February Record
Executive Summary
Light trucks drive Canada LV sales to another monthly sales record in February, while car deliveries were second-worst for the month in the last 31 years.
New light-vehicle sales in Canada totaled 118,840 units in February, setting a new all-time high for the month that bested the previous benchmark of 108,962 units set last year by 9.1%. Both months had 23 selling days.
The February selling rate of 5,167 units also bested January’s 24-day pace of 4,513 by 9.7%, putting dealers on track for a strong spring selling season.
Light trucks led the market to the new record with sales of 118,840 vehicles besting by 17% the old record of 108,962 deliveries posted a year earlier. That in turn eclipsed the 2012 benchmark of 106,443 units by 6.8%.
Although cars mustered a 15.1% increase in daily sales over January, last month’s 38,892 deliveries trailed prior-year’s 40,612 units by 4.2%, marking the second-worst February performance since 1985. The February high point was reached in 1986 at 80,081 units.
FCA Canada, Ford and General Motors collectively delivered 52,423 new LVs in February, up 11.1% from 47,208 in like-2015 with FCA still No.1, although its lead over rival Ford shrank dramatically to 3.4% from 25.4% last year.
Canadian dealers have delivered 227,152 new LVs in the first two months of the year, a 9.3% gain on the 207,809 units sold in the same period of 2015, thanks again to record light-truck sales of 154,470 vs. 132,321 units.
Declining interest in cars has prompted a 3.7% delivery shortfall in the same period, to 72,682 from 75,488.
Of the 10 makes posting car sales gains in the first two months, the only high-volume manufacturers were GM, up 28.3% and Ford, up 7%. Gains elsewhere, excluding low-volume specialty car builder Tesla’s 115%, ranged from 2.9% at =Kia to 19% at Honda.
