Auto sales across Canada are down 1.6% as of May, but U.S. auto sales bounced back, according to July figures.
Auto sales in B.C. rose 2.9% from May of last year, according to Statistics Canada, but most other provinces saw single-digit declines. While sales of passenger cars dropped across the country (11.9%), sales of trucks rose 5.6% in the month of May compared to the same period of 2015. Total Canadian motor vehicles sales have been rising steadily since 2011.
U.S. auto sales had a strong start to the third quarter, according to a TD Economics note released August 3, totalling 17.8 million units in July –the highest monthly total since November – after falling to 16.6 million units in June. The brands with the biggest increases in sales across the U.S. were Hyundai and Kia, which both rose 6% year-over-year while Ford (-3%), GM (-2%) and Toyota (-1%) all lost market share.