(Richmond Hill) Motor vehicle sales rose in May compared to the same month last year, bringing a glimmer of hope after years of uneven trends in this market, the specialized firm DesRosiers Automotive Consultants said on Friday.
Sales of light vehicles increased by 13.5% compared to those of May 2022, indicated the specialized firm.
They numbered 159,705 units in May, which also represented a growth of 10.9% compared to April sales.
However, May sales remained 21.0% lower than before the pandemic.
DesRosiers believes, however, that the resilience of the economy and the absence of an imminent recession, although predicted by many observers, allow us to envisage a solid summer market for dealers.
According to Andrew King, partner at DesRosiers, the annualized and seasonally adjusted rate of sales for the month of May was 1.54 million units, which ended a streak of three consecutive months of decline.
