Record car sales reported in Canada, US for October

Car-Ford-Honda-Chrysler-Toyota-Subaru-GM-October-sales-records-EDIWeekly

Car sales in Canada and the United States set new records in October. General Motors and the other US carmakers reported sales that far exceeded expectations. GM said that October’s annualized sales of 18.2 million vehicles is the highest level seen since 2001. GM’s sales rose 16 per cent in October, for the company’s best October in more than a decade. GM sold 263,000 vehicles, nearly a fifth of them (52,000) being the Chevrolet Silverado. The magnitude of these sales numbers can be seen by contrasting them with the year 2009. That year, in the depth of the Great Recession, US car sales plunged to just 10.4 million vehicles.

Ford also reported a double-digit rise in sales, up 13 per cent over the same period a year ago, with 213,938 vehicles sold in October. Fiat-Chrysler too reported big gains, up 14.7 per cent year over year. It was the sixty-seventh straight month of year-over-year gains for the third Detroit auto maker.

Toyota and Nissan were in the same league with sales increases of 13 and 12.5 per cent respectively. Toyota’s US general manager told Reuters that October was “huge” for the industry, “smashing expectations.”

In Canada, sales have been so brisk that dealerships are running out of cars, according to the Financial Post. Annualized sales numbers came in at more than two million for the second month running, according to DesRosiers Automotive Consultants. Sales of pickup trucks and SUVs, which account for more than 58 per cent of Canadian vehicle sales, were up 6.5 per cent in October. Seven automakers in Canada reported double-digit gains in truck sales. Subaru saw sales growth of 11.7 per cent year over year. Its compact SUV model the Forester sold 1,228 units, an increase of 30.9 per cent.

Ford remained the top seller in Canada, despite a 2.6 per cent drop in October sales. Ford’s strength in October was in crossover utility vehicles and SUVs. GM’s sales were up 7 per cent, while Chrysler Canada reported a jump of 23 per cent, mainly on the strength of strong Jeep sales. This is likely to be Chrysler Canada’s best year ever, a “historic” year, the company says.

As in the US, Canadian carmakers were reportedly taken by surprise by the strong sales in October. A combination of low gasoline prices, low borrowing costs, and a host of new models from the car manufacturers is contributing to the heated pace of sales. Incentives have also contributed: carmakers reportedly spent 14.1 per cent more on cash-back promotions and other deals such as zero-per cent financing in October. October also had five weekends this year, the busiest time of the week for car dealers.

Did you miss this?

Other Popular Stories

  • BMW to invest 6 per cent of revenue in R&D; plans to streamline manufacturing to pay for research
  • Ontario College of Trades report recommendations accepted by minister
  • Swimming Robot to Examine Damage from Japan’s Nuclear Reactor
  • Strength to build on, but Canada still lags in industrial R&D
  • Solar power companies report growth
  • Forestry sector providing job relief for former oil patch workers
  • Keystone: will it all come down to emissions?
  • Bombardier upbeat about growth prospects now that CSeries jets are flying
  • GE expanding cold-weather jet engine facility in Winnipeg
  • One sweet ride: a biodegradable auto made of sugar beets and flax — but what about mice?
  • Scientists use lab-grown crystals to create whiter LED light
  • Canada's west to lead growth of economy for 2017 at 3.3 per cent: Conference Board of Canada
  • Green building technology to grow annually by 10.12% to the year 2023
  • Manufacturing takes a hit as water heater plant closes in Fergus
  • Industry-academic R&D cooperation to boost Ontario's aerospace sector
  • Surveillance systems company receives $75M federal investment
  • Supercapacitors Increase Performance and Longevity, Charge in Minutes
  • Has the time come for irradiated beef in Canada?
  • Large electric aircraft feasible with record-breaking Siemens motor
  • Massive turnaround at Irving refinery a boost for local economy
Scroll to Top