Desrosiers Says Canadian Auto Sales Dropped Nearly 20 Per Cent In March

The consulting firm estimates that 140,460 new light vehicles were sold per month, down from a year earlier but up from almost 100,000 in February.
More than 330,000 light vehicles were sold in the quarter, down 12.7% from 378,700 in the first quarter of 2021. The seasonally adjusted annual sales rate was 1.54 million for the month, a significant drop from 1.92 million in March. 2021.
Andrew King, CEO of DesRosiers, says the sharp drop in March sales was not unexpected, as March 2021 was a “hot month”.
It was the last strong sales month before semiconductor shortages hit the auto industry, and DesRosiers says the industry continues to face supply problems.
DesRosiers notes that there were some bright spots on the luxury side of the market in the first quarter of 2022, with Porsche sales up 28.6%, while Lexus and Audi up 5.7% and 4.8%, respectively. respectively.
This Canadian Press report was first published on April 1, 2022.