Canadian auto sales down 44% in May – Business News

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DesRosiers Automotive Consultants said Canadian auto sales fell 44% in May, an improvement from the estimated drop of 74.6% in April when the COVID-19 epidemic first hit a full month of sales.

It is estimated that 113,224 new light vehicles were sold last month, compared to 45,833 sold in April when sales were comparable to those of the early 1950s.

Analyst Dennis DesRosiers says the May decline suggests cautious optimism as “the first bursts of recovery come from a severely damaged market. “

Sales fell 48.3% in March when general restrictions were put in place for the first time.

The three months easily overshadowed the previous record for a monthly decline of 27.7% set in February 2009 amid the worst of the Great Recession.

The new light vehicle sales market may have started to recover, with dealers reopening slowly with reduced hours and visits by appointment only.

According to him, “a touch of optimism” for the coming weeks is justified, but the situation remains changing and could still face additional challenges from the pandemic which has forced a lockdown imposed by the government.

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