DesRosiers says Canadian auto sales dropped 13 per cent in April
TORONTO (CP) – DesRosiers Automotive Consultants says auto sales were down 13.3 per cent in April compared to the same month a year earlier when the semiconductor shortage first started to significantly hamper sales.
The consultancy estimates that 140,785 new light vehicles sold in the month, barely higher than the 140,460 that sold in March and well off the April sales for 2021.
DesRosiers says the seasonally adjusted annual rate of sales for April came in at 1.44 million for the month, down from the 1.66 million for April a year earlier when sales first plummeted from the adjusted sales 1.92 million in March before supply shortages hit.
Andrew King, managing partner of DesRosiers, says supply issues have dominated the market for the past year with few short-term signs of improvement.
The auto industry has been struggling with computer chip shortages caused by a combination of manufacturing disruptions due to the pandemic and heightened demand for the critical chips in other industries.
Looking back, April 2019 sales came in at about 185,000 units after over a year of demand-related declines in sales.