Light trucks power March new vehicle sales to record of 187,000
Well on the way to setting another annual record: BMO chief economist.
RICHMOND HILL, Ont. — Light trucks spurred Canadian new auto sales to a record high for March as US sales fall to a two-year low.
DesRosiers Automotive Reports says more than 187,000 vehicles rolled off the lot last month, up 7% from the same month last year, which was then an all-time high for March.
The consulting firm says passenger car sales fell slightly but light truck sales rose by more than 11% to make up the difference.
BMO chief economist Douglas Porter says year-to-date vehicle sales are up almost 5%, putting new car sales well on their way to setting another annual record this year after four straight years of record volumes.
He says Canadian sales growth contrasts with slowing new vehicle sales in the United States, where they fell to a two-year low in March.
DesRosiers says General Motors, the overall volume leader, sold more than 30,100 vehicles in March in Canada, up about 23%, while Honda sales rose 19% to 17,400.