DesRosiers Automotive Consultants says Canadian auto sales were down 16.2 per cent in July compared with a year earlier because of a shortage of available vehicles.
The consultancy estimates 130,480 new light vehicles sold in the month as auto manufacturers continue to struggle with semiconductor supply chain issues.DesRosiers says that while overall sales were weak, the numbers also show the “first green shoots” of improved supply at a small number of companies.
It says the seasonally adjusted annual rate of sales for July came in at 1.43 million, generally in line with the soft results seen in recent months.Your time is valuable. Have the Top Business Headlines newsletter conveniently delivered to your inbox in the morning or evening.