Richmond Hill, Ontario – Light vehicle sales in Canada were down by 16.5 per in May, the seventh month in a row where sales dropped from the previous year, according to industry analyst Dennis DesRosiers.
“This is not good, but when you translate these sales numbers into a seasonally-adjusted annual rate, the data shows a stabilization of sales in Canada at about 1.45 million units,” DesRosiers said. Since most automakers and analysts have a 1.35 million annual rate in their forecast, DesRosiers said that the Canadian market appears to be stabilizing at around 100,000 units above internal forecasts, and that a number of companies are running relatively low on inventory.
While many companies were down considerably from May 2008, including a 50 per cent drop for Chrysler, Mercedes-Benz and Mitsubishi reported all-time record sales for the month, and Kia, Hyundai, Audi and Volkswagen were up. Overall, passenger car sales were down by 24.0 per cent, but light trucks were only down by 5.6 per cent. The 154,018 total for the month was the worst May since 1999.
Light vehicle sales for May 2009 were as follows:
|Manufacturer||May 2009||May 2008||% Change|
|Land Rover||174||190||– .8.4|
|Light trucks||70,837||75,008||– 5.6|