Richmond Hill, Ontario – New-vehicle sales rose 4.4 per cent in November 2011, compared with November 2010, and import brands soared while the domestics faltered overall, according to industry analyst Dennis DesRosiers.
Sales by import nameplates were up 10.7 per cent, while domestic sales fell 2.9 per cent and only Chrysler had positive sales number.
“Another respectable although lean month for light-vehicle sales in Canada,” DesRosiers said. “Total sales were up 4.4 per cent for November, which puts them up by 1.8 per cent year-to-date. November was also the best we’ve seen since November 2006, which is another positive.”
However, DesRosiers said that the seasonally adjusted annualized rate (SAAR) was 1.64 million units in November, largely unchanged for the past 18 months. “What a stable SAAR tells us is that the automotive markets are performing well, but there is a lot of hesitancy in the market so there isn’t a surge upwards…it would be nice to see solid growth, but all indicators point to a positive but very hesitant market going forward.”
Import nameplates saw their best performance in market share in two years, with both Toyota and Honda up significantly, and DesRosiers said that he expects the imports to outperform the Detroit companies in the near term as the supply constraints due to extreme weather in Asia end. “Detroit cleaned up their cost structure with their restructuring, so financially these companies are doing much better, but we are still a long ways away from seeing whether they can garner long-term market success,” DesRosiers said.
Sales for November were as follows:
|Manufacturer||Nov 2011||Nov 2010||% Change|