For the second time ever, car sales have toppled 200,000 units sold during a single month in Canada. May 2017 proved to be the best selling month for vehicles in the history of Canada with 216,861 units sold.
These are very impressive numbers considering May has been widely regarded as one of the most expensive months of the year to purchase a vehicle. The sales in May were up 14.2% over the average sales in May over the past five years, and up 11.2% from last May.
What kind of vehicles are Canadians buying? American car manufacturers still reign supreme claiming the top 3 positions:
|Car Manufacturer||# of Units Sold in May 2017||# of Units Sold in Year 2017|
Ford, Fiat Chrysler, and GM are the top three car manufacturers in Canada in the month of May and throughout 2017. Japanese powerhouses in Toyota and Honda finished forth and fifth respectively.
Not only were American car manufacturers the winners finishing in the top three spots, but they also saw the biggest improvements. GM having the biggest improvement of the three improved their sales by 18.4% compared to last year.
The Ford F-Series trucks continue to not only be the best-selling truck in Canada, but the best-selling vehicle over all throughout the country. Light truck and SUV registrations continue to dominate the market share. Out of the passenger cars, the Honda Civic finishes in the top spot.
What can we expect with such high volumes of vehicle sales in May 2017?
One thing is for certain, with the more new vehicle sales being registered, the larger the used car market will grow. This is positive news for bargain hunters trying to get the best value for their used vehicle purchase. In three years time, the influx of used vehicles for sale should hypothetically grow with the market, while reducing the demand with an increased supply.
There is always pressure to out perform previous months. Car salespeople and financial institutions will be looking to ride the momentum into June 2017, and the months to follow.