The new light-vehicle market grew again in August, with sales jumping 18.3 per cent compared to the same time last year, according to DesRosiers Automotive Consultants Inc.
Looking back even further, last month’s total was 1.8 per cent higher than the 146,925 vehicles automakers sold in August 2021, but still down 17.7 per cent from the August 2019 total of 181,996 in the last uninterrupted sales year prior to the 2020 COVID-19 pandemic. Inventory has also been in short supply because of the ongoing global shortage of semiconductors. Although microchip supply is increasing, U.S.-based AutoForecast Solutions predicts automakers will cut 2.4 million vehicles from planned production in 2023 because of lack of chips.
DesRosiers previously predicted the auto industry would be in a rare scenario this year, with car sales rising despite a broader economic slowdown.
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