TORONTO — The new vehicle market remained hot in September, according to DesRosiers Automotive Consultants Inc., with vehicle sales jumping 19 per cent in the month on an annualized basis.
However, the firm notes the sales numbers benefited from a weak year-over-year comparison -- last year's September sales were the weakest since 2009.
Andrew King of DesRosiers says improved vehicle availability has made a real impact on the market, alleviating pent-up demand and outweighing the pressures of high interest rates and a slowing economy.
On a year-to-date basis, the auto market has gained 10.1 per cent overall, the report says.
The report shows General Motors led the market with a 14.6 per cent sales gain, recording a total of more than 197,000 vehicles sold so far this year.
The luxury market also saw significant sales jumps for the Lexus, Infiniti and Audi brands.
This report by The Canadian Press was first published Oct. 4, 2023.
The Canadian Press
