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Canada May 2022: Toyota (-0.7%), Lexus (+8%), Volvo (+2.8%) resist in market off -8.5%

Toyota Tundra sales are up 82.8% year-on-year in May.

Note the Q1 2022 article has now been updated with a Top 42 All-brands and Top 280 All-models.

According to DesRosiers Automotive, the Canadian new light vehicle market loses -8.5% year-on-year in May to 140,725 units. Although it seems like an improvement on the previous year-on-year losses this year (notably -19.8% in March), May 2021 figures were a very low base, and May 2022 remains down an abysmal -30.8% on the 203,342 registrations in pre-pandemic May 2019. This especially hurts as May is usually the biggest month of the year in Canada. The Seasonally Adjusted Annual Rate of sales is down to 1.36 million units vs. 1.44 million in April and 1.54 million in March. In fact, quite worryingly the SAAR has dropped each month so far in 2022, starting at 1.67 million in January. The supply shortage may therefore be worsening instead of improving. As a reminded the SAAR was 1.48 million in May 2021 which equates to a -8.1% year-on-year loss to May 2022. The year-to-date tally is now down -9.9% to 618,549.

However most groups and brands still reporting monthly data see steep year-on-year falls this month. The one avoiding that fate is Toyota Motor stable at +0.2%. Hyundai-Kia (-24.4%) and Honda Canada (-29.7%) both dive in contrast. Among brands, Toyota (-0.7%) resists very well, unlike Hyundai (-23.7%), Honda (-28.2%), Kia (-29.4%), Mazda (-31.5%) and Subaru (-36.5%). Also up are Lexus (+8%), Volvo (+2.8%) and Genesis (+66.4%) still gearing up from a low volume base. Acura (-42.2%) sinks.

Model-wise, again among those with available May data, the Toyota RAV4 (-2.4%) edges back whereas its archenemy the Honda CR-V (-20.3%) falls. Likewise for the Toyota Corolla (-29.4%) above the Honda Civic (-23.7%) once again. The Hyundai Kona (-12.9%) and Toyota Highlander (-11.1%) limit their fall somewhat but the Hyundai Tucson (-41%) is hit hard. Good surprise for the Toyota Camry (+25.1%). Below and in order of sales, the Toyota Tacoma (+2.6%), Hyundai Venue (+7.7%), Toyota 4Runner (+72.7%), Lexus RX (+21.8%), Toyota Tundra (+82.8%) and Venza (+61.6%) all secure lifts.

Previous month: Canada April 2022: Genesis, Hyundai fare well in market down -13.3%

One year ago: Canada May 2021: Market down a steep -28.9% on pre-pandemic levels

Full May 2022 sales data for selected groups, brands and models below.

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