The Association of International Automobile Manufacturers of Canada, (AMIAC) said yearend incentives and new model introductions combined with consumer confidence levels that remain relatively high compared to last year, have contributed to strong vehicle sales growth in October that continues to have the industry trending close to record sales levels.
October’s total vehicle sales for the month of October were 135,476, which equates to a 7.8% increase over last October’s sales. Year to date sales through October of 1,441,014 are 6.8% better than last year.
For the AIAMC members the trend of better-than-market sales growth continued with the members achieving a collective sales increase of 12.7% over last October with total units sold of 78,931.
The total passenger car sales grew 16.3% to 61,307 units, compared to last October, while light truck sales remained relatively stagnant, increasing 1.7% to 61,307units. For the AIAMC members, their car sales grew 15.9% to 47,502 units, while light truck sales rose 8.3% to 31,429 units. In October passenger cars represented 45.3% of the total market compared to 42% last October, while for AIAMC member’s passenger car sales represented 60% of their total sales.
“The consumer is benefiting from a highly competitive market combined with some significant incentives on 2012 model year vehicles as they are cleared out by many manufacturers,” said David Adams, President of the Association of International Automobile Manufacturers of Canada. “October’s sales continued the nearly unbroken trend in 2012 where monthly sales have continued to be stronger than the five year historical average for the month. Sales in October of 135,476 were up 10% from the 5 year historical average of 122, 794,” added Adams.
Of the fifteen AIAMC member companies, eleven had sales growth in October, with a number of members reporting record sales for the month of October. AIAMC member’s sales represented 58.3% of total market sales for October.