(Toronto) Light vehicle sales increased 5.7% in May compared to last year, as the market continues to recover from the lows of the pandemic, according to specialist firm DesRosiers Automotive Consultants.
The consultant estimates there were 169,000 sales during the month, up from around 160,000 at the same time last year and well above the “pitiful” 141,000 sales in May 2022.
DesRosiers says the seasonally adjusted annual rate (used to make more accurate monthly comparisons) of 1.63 million units was the lowest so far this year.
In February, the seasonally adjusted rate reached 2.1 million units due to the combination of strong demand and unseasonably warm weather.
Mr. King says auto sales have increased year over year for 19 consecutive months.