Car sales up 9.2 per cent in March, though signs of weakness increasing: Desrosiers

By The Canadian Press on April 3, 2024.

TORONTO – DesRosiers Automotive Consultants Inc. says March auto sales were up 9.2 per cent from last year, but it marks a slowdown from a record February gain.

It says an estimated 159,000 units were sold last month, while sales for the first quarter overall totalled 401,000 vehicles, up 15.3 per cent from the first quarter last year.

DesRosiers says last month’s sales still stand far below pre-pandemic March sales of more than 180,000 vehicles.

Andrew King, managing partner at DesRosiers, says pent-up demand from supply chain woes continued to boost sales activity as vehicle availability approached normalization.

However, King says there are increasing warning signs as a divide begins to emerge in the vehicle market.

He says a slowdown in the luxury market is becoming more evident as the mainstream vehicle market remains relatively steady.

This report by The Canadian Press was first published April 3, 2024.

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