November 4, 2004

Canadian vehicle sales dip 1.1% in October

Vancouver, British Columbia – Canadian vehicles sales were down 1.1 percent last
month when compared with October of 2003. Total vehicle sales of 119,751 compared
to 121,094 units in 2003. Year to date, the Canadian market is down 4.9 percent.

“We expected the market this month to be up or down a point or two so this
performance is not out of line,” said Dennis Desrosiers of Desrosiers Automotive
Consultants. “There was very heavy discounting by GM, Ford and DCX which we
suspected would help maintain sales and we were correct. Indeed GM was up 8.3
percent on the month, DCX was up 0.3 percent on the month and Ford was down 4.0
percent on the month. Import nameplates who tend to shy away from the heavy
discounting were down 5.6 percent on the month.”

Notable decliners were Honda (-20.2%), Volkswagen (-21.1%), Mercedes-Benz (-24.9%),
and Audi (-26.2%). But not all import makes were down. Sales increases were
reported by Hyundai (+19.6%), Lexus (+18.9%), Mazda (+14%), Volvo (+10.1%), and
Nissan (+1.3%).

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