March 5, 2007
Luxury vehicle sales show growth in February, analyst says
Richmond Hill, Ontario – Luxury brands had strong growth in February, but overall light vehicle sales dropped by 0.3 per cent compared to February 2006, according to data released by industry analyst Dennis DesRosiers. Sales are still up by 2.5 per cent year-to-date.
“GM, Ford and Chrysler saw sales drop 6.0 per cent while import nameplates were up 7.1 per cent, which is a continuation of a now nine-year trend,” DesRosiers says. “I wonder where the bottom is for the Detroit-based players as a group?”
DesRosiers also notes that while passenger cars were down 3.1 per cent, light truck sales were up 2.4 per cent. “Gas prices headed higher in February so this is a bit unusual,” DesRosiers says, who suspects that it is compact light trucks that are selling and will analyze the data later in the month.
“Although the year is starting out well, all things considered, we still believe the sector will be in tough over the full year with sales down in the 3 to 5 per cent range,” DesRosiers says. “March will tell an interesting tale like it does every year. March is the first big month for vehicle sales and can help set the tone for the rest of the year.”
Sales figures for February were:
|Manufacturer||February 2007||February 2006||Per cent change|
|General Motors||22,977||24,598||– 6.6|
|Land Rover||150||163||– 8.0|
|Total light vehicle sales||97,032||97,360||– 0.3|
|Passenger Car||47,254||48,756||– 3.1|
|Light truck||49,778||48,604||+ 2.4|