April 17th, 2024

February auto sales jump 24 per cent to highest-ever sales for the month: DesRosiers

By The Canadian Press on March 4, 2024.

Automotive Consultants Inc. says February auto sales hit an all-time high for the month after jumping 24.4 per cent from last year. A Chevrolet vehicle logo is pictured on a car at an automotive dealership in Ottawa on Friday, Aug. 11, 2023. THE CANADIAN PRESS/Sean Kilpatrick

DesRosiers Automotive Consultants Inc. says February auto sales hit an all-time high for the month after jumping 24.4 per cent from last year.

It says it estimates sales totalled an “astounding” 129,000 units for the month, up from around 104,000 last year.

DesRosiers says the sales total also eclipsed the 125,000 units sold in February 2020, the last time the month had an extra day and just before the pandemic threw the industry into turmoil.

Andrew King, managing partner at DesRosiers, says the latest sales figures show the supply constraints brought on by the pandemic are “truly in the rear-view mirror.”

He says pent-up demand is helping drive sales that reached a seasonally adjusted annual rate of 2.1 million units for the month.

February marked the 16th consecutive month of year-over-year growth.

This report by The Canadian Press was first published March 4, 2024.

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