October 3, 2007
September auto sales “respectable” but not great, analyst says
Richmond Hill, Ontario – Canadian new car sales enjoyed a “respectable month but not a great month,” says industry analyst Dennis DesRosiers, noting that sales were down 2.9 per cent over last year, and that sales were higher four times in the last eight years.
“The economy was still very strong in September and prices were coming down with the strong dollar and the huge incentive dollars in play, so there must be other things at work,” DesRosiers says.
DesRosiers suggests that a weakness in the U.S. dollar, with customer perception that prices are too high, may be to blame, but says “With this story blasted from one end of the media to the other, I’m sure some consumers just sat on their hands. This is how markets work and why I’m not concerned about the price differentials.”
Sales for September 2007 were as follows:
|Manufacturer||September 2007||September 2006||Per cent change|
|Total light vehicle sales||131,827||135,764||-2.1|