Canadian June New Motor Vehicles Sales Drop 1% Below Expectations
New motor vehicle sales (unadjusted): 163.06K
Sales m-o-m (seasonally adjusted): 143.27K
Canadian New Motor Vehicle Sales in June fell 1% to 143.27K units fom the surprise 1.1% increase prior and below the consenus estimate of 0% (unchanged). The decline was led by the continuing decreases in truck and passenger car sales. New Truck Sales fell 2.4% to 63.75K units in June as surging gasoline price dampened interest in those vehicles since the beginning of this year.
Passenger car sales edged up 0.1% to 79.52K units, led by increased sales in North American-built passenger car up 0.7%, offset by a 0.9% drop in overseas-built passenger cars. Quebec had one of the largest declines in motor vehicle sales down 3.7%, but sales continue to be strong despite this drop.