New vehicle sales still in the repair shop
Adding up sales between January and August, there is still a $1.7 billion hole to fill to catch up to sales during the same period last year
By ATB Economics 16 October 2020 1 min read
It looks like the post-lockdown rebound in new car and truck sales in Alberta has started to plateau.
Over 19,000 new vehicles were sold in Alberta in August. While much better than during the lockdown, this was still 8.2 per cent below the number sold the previous August.
In terms of the dollar value of vehicles sold, car and truck dealers brought in $923 million in August. Again, while more than double the amount in April when the lockdown was at its height, sales were still 6.3 per cent below the bar set in August 2019.
Adding up sales between January and August, there is still a $1.7 billion hole to fill to catch up to sales during the same period last year.
Things are much the same for Canada as a whole. New vehicle sales have improved compared to lows reached during the lockdown, but the number of vehicles sold in August was down by 7.8 per cent compared to 2019 while the dollar value of sales was off by 4.9 per cent.
The year-to-date hole nationally is $15 billion.