Canadian auto sales fall 11.4 per cent in August
TORONTO — Canadian auto sales continued to struggle last month, falling 11.4 per cent from the prior year, driven by vehicle shortages caused by semiconductor supply issues.
According to estimates compiled by DesRosiers Automotive Consultants, Canadian light vehicle sales totalled 146,925 units in August, compared with 165,837 a year earlier.
Sales were also down 19.2 per cent from the 182,040 sold in August 2019, before COVID-19.
The seasonally adjusted annual rate of sales came in at 1.62 million, the second lowest month this year, said managing partner Andrew King.
He says vehicle shortages had varying impacts from one company to another, with some posting increased sales, while others saw dramatic declines after being hard hit by supply chain shortages.
However, DesRosiers says company-level data is released quarterly
The early report card for the industry: “Lots of promise, but failing to live up to potential.”