The latest update from DesRosiers Automotive Consultants concerning provincial new light vehicle sales reveals that the Atlantic provinces enjoyed significant spotlight success in March 2024.
Compared to a national average, sales were up 9.2% for the month — with Prince Edward Island having increased 27.0%, Newfoundland rising 22.4%, Nova Scotia growing its sales by 20.4%, and New Brunswick noting an increase of 17.6%. Moving west, Ontario and British Columbia slipped behind the national average: sales were up 4.7% and 5.0%, respectively, for March.
“March sales clearly showed the impact of the luxury market slowdown, with the two key provinces for luxury sales notably underperforming the rest of the country, whilst those provinces with limited luxury exposure continued to prosper,” said Andrew King, Managing Partner at DAC, in a statement.
It should also be noted that the Atlantic provinces outperformed the national average by a notable amount during the first quarter. During that period, all provinces enjoyed double digit growth, with the smaller increase in new light vehicle sales coming from Alberta — up 10.1% compared to Q1 2023.
DAC said nearly 401,000 units were sold in Q1, representing an increase of 15.3% when compared to Q1 2023. And an estimated 159,000 units were sold at an increase of 9.2% in March.
