New vehicle sales stay hot in November
Canada has sold more new vehicles this year than last year with one more selling month to go.
Stats from DesRosiers Automotive Consultants show that November 2024’s new vehicle sales numbers were almost 9 per cent better than the same time last year.
The consultancy estimated that 156,000 were sold in November 2024, up 8.8 per cent from 2023.
While there were concerns in the summer over sales numbers — and even a dip in sales growth from the previous year — the last couple of months have provided optimism
DesRosiers noted that even one extra selling day in November this year compared to last isn’t enough to dampen the “impressive” numbers. The seasonally adjusted annual rate for November came in more than 2 million units, even higher than what was seen in the early part of this year.
“With one month left to go in 2024, the market has already exceeded 2023’s year-end total of 1.72 million,” noted Andrew King, managing partner of DesRosiers.
The group’s announcement also noted that while the year-end numbers will still fall short of what was seen pre-COVID, the return to the dealership by customers has helped boost 2024’s numbers.
“It is amazing what happens when you actually have vehicles available to sell,” the announcement said, a nod to the lack of inventory over the pandemic years.
Image credit: Depositphotos.com
The post New vehicle sales stay hot in November appeared first on Auto Service World.