(Toronto) Motor vehicle sales in Canada rose 3.7% in March compared to the same month last year, thus recording a fifth consecutive month of gains, the specialized firm DesRosiers Automotive Consultants said on Tuesday.
Overall, there were about 146,000 light-vehicle sales for the month among automakers reporting the data, DesRosiers said.
Andrew King, the firm’s managing partner, pointed out in a report that while the streak of rising sales was encouraging, there was still a “marked lack of momentum” since the gains are relatively small and the rise in March is lower than those observed in January and February.
DesRosiers noted that the seasonally adjusted annual rate of sales for March came in at 1.59 million, significantly lower than the first two months of the year, when that metric hovered around 1.7 million.
For the first quarter, DesRosiers estimates total sales at 348,000 vehicles, up 5.2% from last year. General Motors would be in the lead with 61,093 vehicles sold, for a growth of 28.1% compared to sales for the same month the previous year.
Sales volumes among automakers see wild swings as inventory levels fluctuate, DesRosiers pointed out. Kai’s first-quarter sales jumped 38%, while Honda’s fell 26%.