Canada August 2022: Sales off -13.9% to lowest since 1999
Honda HR-V sales are up 34.2%.
The Canadian new car market doesn’t show signs of recovery in August with Desrosiers Automotive Consulting (DAC) estimating the market at 126,534 units, down -13.9% year-on-year. This is the weakest August volume in 23 years: since the 121,655 sales of August 1999. Coincidently, the Canadian government introduced a new luxury vehicle tax which can only handicap the market further over the next few months. The monthly seasonally adjusted annualised rate of sales (SAAR) stands at 1.4 million, down -13.6% on the 16.2 million of August 2021.
All groups still reporting monthly sales fall faster than the estimated market figure, which could signal actual monthly sales could be even worse than DAC’s predictions. The event in the groups ranking is Hyundai-Kia (-24.9%) toppling Toyota Motor (-27%) for just one sale. Subaru (-41.6%), Honda Canada (-32.7%) and Volvo Cars NA (-26.8%) all flounder while Mazda (-19.5%) resists better. Brand-wise, Toyota (-28.2%) is in trouble as are Honda (-32.2%) and Kia (-38.6%) while Hyundai (-16.4%) and Lexus (-18.1%) hold up relatively well in context. Genesis (+0.8%) posts the only year-on-year gain around albeit with very small volumes still.
Note Mazda and Volvo didn’t share model detail. Among models with monthly sales data, the Toyota RAV4 (-19.1%) is back above the Toyota Corolla (-7.8%) which, with the Honda Civic (-10.7%) manages to contain their losses somewhat. The Hyundai Elantra (+17.6%) signs an impressive gain whereas the Honda CR-V (-66.3%) implodes. The Honda HR-V (+34.2%), Hyundai Venue (+14.4%) and Toyota Tundra (+155%) all swim upstream with outstanding upticks. Below, the Honda Pilot (+24.8%), Kia Rio (+12%), Hyundai Santa Cruz (+328.9%) and Honda Passport (+52.6%) also make themselves noticed.
Previous month: Canada July 2022: Market down -16.2% to weakest in 21 years
One year ago: Canada August 2021: Market off -11.4%, Lexus, Subaru swim upstream
Full August 2022 sales for selected groups, brands and models below.
