Near-Record January LV Sales in Canada
Executive Summary
Record new light-truck sales pushed January LV deliveries in Canada to second-best for the month, despite a steep decline in car demand.
Canadian dealers opened the 2016 on a robust note, delivering 4,511 light vehicles on each of 24 selling days in January, 18.7% ahead of the 3,892 sold over 26 days a year earlier.
The 108,269 LV sold last month was second-best only to the record 110,045 units delivered in January 2002, while like 2015’s 98,847 LVs ranked fourth.
Behind the month’s strong showing were record-busting light-truck sales totaling 74,479 units that bested-like 2015’s 63,971 deliveries by 26.1% and marked the third consecutive January sales benchmark.
Despite the fact gasoline prices, although lower than a year earlier, remained well above those in the U.S., Canadian consumers shunned more fuel-efficient cars to the degree car sales, at 33,790 units, were the second-worst for January in the last 31 years, topping only the 31,240 units sold in 2011.
In an anomaly, while car sales also failed to match the 34,876 units delivered in January 2015, this year’s 2-day shorter selling period netted a 5.0% gain the daily selling rate.
Although Ford remained in second place despite a 22.9% rate gain over year-ago, it pulled closer to market-leader FCA, up 8.8%, narrowing the gap to 1,671 units from 3,530.
A 34.7% year-over-year gain also allowed third-place General Motors to pull to within 12% of Ford this year compared with a 19.6% deficit in 2015.
Including Toyota and Honda, the top five contenders accounted for 65.4% of January 2016 LV sales, up from 63.7% a year earlier, with Honda, up 1.7 percentage points, GM, up 1.6, and Ford, up 0.6 points, posting gains.
