(Toronto) Auto sales in Canada rose 3.7% in March from the same month last year, marking the fifth straight month of gains, specialist firm DesRosiers Automotive Consultants said on Tuesday.
Overall, there were about 146,000 light vehicle sales for the month among the automakers that reported the data, DesRosiers said.
Andrew King, the company’s managing partner, pointed out in a report that while the streak of rising sales is encouraging, there is still a “clear lack of momentum” as earnings are relatively flat and March’s surge is smaller be than in March January and February.
DesRosiers noted that the seasonally adjusted annual sales rate for March was 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% year over year. General Motors would come out on top with 61,093 vehicles sold, a 28.1% growth compared to the same month last year.
Sales volumes among automakers are seeing wild swings as inventories fluctuate, DesRosiers pointed out. Kai’s sales rose 38% in the first quarter, while Honda’s fell 26%.
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