TORONTO — The new vehicle market remained hot in September, according to DesRosiers Automotive Consultants Inc., with vehicle sales jumping 19 per cent in the month on an annualized basis.
However, the firm notes the sales numbers benefited from a weak year-over-year comparison -- last year's September sales were the weakest since 2009. Andrew King of DesRosiers says improved vehicle availability has made a real impact on the market, alleviating pent-up demand and outweighing the pressures of high interest rates and a slowing economy.The report shows General Motors led the market with a 14.6 per cent sales gain, recording a total of more than 197,000 vehicles sold so far this year.
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The Toronto Stock Exchange's main stock index has given up all of its gains for 2023, as investors head for the exits as the realization that high interest rates are going to stick around settles in.The S&P/TSX Composite Index lost more than 264 points, or 1.
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