TORONTO — DesRosiers Automotive Consultants Inc. says light vehicle sales in Canada were up 5.1 per cent in Februrary from a year earlier.
The automotive industry research firm estimates 103,771 new light vehicles were sold in the month.
While the total represents an increase from a year earlier, it was the second worst February sales of the past decade.
The consultancy says that while the market is still recovering, February marks the fourth month straight gains as vehicle availability improves and consumer spending remains resilient.
DesRosiers says the seasonally adjusted annual rate of sales for February came in at 1.7 million, generally in line with results from January.
Availability of vehicles has improved as supply chain constraints ease and production increases, including a 12 per cent increase in 2022 from a year earlier.
This report by The Canadian Press was first published March 2, 2023.
The Canadian Press