Canadians again bought fewer new vehicles in November -- the eighth straight month of declining auto sales -- even as consumer confidence climbed and the country's economy continued strong, an official said Monday.
Total vehicle sales in November were down 9.4% to 143,668 units sold, with year-to-date sales of 1,870,703, a 2.3% decrease from 2017's record sales volume, according to the Global Automakers of Canada, a national industry association.
With one month to go in 2018, GAC president David Adams said it seems clear this year will mark the first sales decrease after 10 years of unprecedented growth.
"Despite an increase in consumer confidence of over two points in November, according to TradingEconomics.com, that has not translated into higher vehicle sales," he said.
In an interview with S&P Global Platts, Adams suggested uncertainty over trade policies involving Canada and the US may have accounted for some of the lower vehicle sales last month.
"We've sort of plateaued a little bit; we're probably on the other side of the sales peak," he said. "The industry is cyclical and always has been that way."
Each of the Detroit-based major automakers absorbed double-digit sales losses in November in Canada, with FCA down a full 35%.
"Notably, however, Toyota had a new November sales record and was third in sales for the month, only 500 units behind General Motors for second spot," Adams noted.
Ford Motor Co. sold the most vehicles in Canada in November, taking the sales crown from GM. Ford's popular F-Series pickup truck remained Canada's best-selling vehicle through November, with the Honda Civic retaining that distinction for passenger cars.
Trucks accounted for 73% of the Canadian market in November, compared with 72% a year ago.
