Canadian automobile sales set another record for last month, producing a strong efficiency in the first half of the year as consumer demand for light trucks was strong, regardless of a decrease in passenger car sales, information showed on Tuesday.
Automakers sold 203,500 automobiles in June, boost of 6.5 percent from the year before and a record performance for the month, Canadian vehicle expert Dennis DesRosiers noted.
Since the beginning of the year, automakers have sold 1.04 million vehicles in Canada, surging 5 percent from the same timespan a year ago and the first time over a million brand-new vehicles have been bought in the first half of the year, DesRosiers stated.
On the other hand, U.S. auto sales dropped for a fourth consecutive month in June, regardless of large consumer discounts, the significant automakers reported on Monday.
While vehicle sales in Canada have published a record in almost each month of 2017 so far, it is not insusceptible to the different image that is forming in the United States, DesRosiers stated.
“Exceeding 2016 as an all-time record setting year may not be a foregone conclusion should Canada begin to follow that pattern in the latter half of the year,” DesRosiers said.
Light truck sales boosted 8.8 percent year-to-date, where as passenger car sales dropped 2 percent, according to DesRosiers.
The boost in sales of pickup trucks indicate enhancing business investment prospects in the nation’s energy sector, stated Carlos Gomes, senior economist at Scotiabank.
Gomes recently raised his 2017 Canadian sales projection to 2 million vehicles from 1.94 million as the Prairie provinces recuperate from the drop in oil costs that started in 2014.
