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February 15, 2023NEW MOTOR VEHICLE SALES, DECEMBER AND ANNUAL 2022 Annual (2022 vs 2021)
In 2022, Nova Scotia new motor vehicle unit sales decreased 14.5%. The 38,198 new motor vehicles sold had a sales value of $1,748.8 million down 7.7% from the total in 2021.
National new motor vehicles unit sales decreased 5.9% in 2022. Canada's 1,576,444 new motor vehicles sold in 2022 represented a sales value of $81.86 billion, up 2.7% from the total in 2021.
Unit sales were down in all provinces, with largest declines in Prince Edward Island, Newfoundland and Labrador and Nova Scotia. The smallest decline was in Saskatchewan.
Sales values were up in six provinces, with larger gains in Ontario and Saskatchewan. The largest declines were in Newfoundland and Labrador, Prince Edward Island, and Nova Scotia.
Declines in annual unit sales and in annual sales values were faster for passenger cars than for trucks/SUVs and faster for overseas manufacturers than for North American manufacturers.
Trucks and SUVs make up the bulk of the market in Nova Scotia. In December 2022, trucks/SUVs accounted for 84.6% of vehicles sold in Nova Scotia and 86.5% of sales values.
North American manufacturers accounted for 68.7% of unit sales and 73.3% of sales values in Nova Scotia during December 2022.
Year-over-year (December 2022 vs December 2021, unadjusted)
Compared with December 2021, Nova Scotia unit sales of new vehicles were up 3.4%. National unit sales were up 7.1% with gains in seven provinces. Quebec reported the largest gain while British Columbia and Newfoundland and Labrador reported the largest declines.
The sales values of new vehicles increased 5.7% in Nova Scotia from December 2021 to December 2022. National sales values were up 10.9% with gains in nine provinces. Newfoundland and Labrador reported the only decline while Quebec reported the largest increase.
Nova Scotia's unit sales in December 2022 were consistent with levels typically reported in this month from 2018-2021, but lower than December unit sales from 2015-2017. December sales values were above December sales values from prior years.
Across Canada, national unit sales and sales values of motor vehicles were up from December 2021 to December 2022. December unit sales levels remained below levels from the same month in the years prior to the pandemic while sales values for December exceeded those reported in the same months before the pandemic.
Average Prices
The average sale price of a new motor vehicle in Nova Scotia was up 8.0% in 2022. National average prices were up 9.2% with increases in all provinces led by New Brunswick and British Columbia.
The average unit price of a new motor vehicle in Nova Scotia was $45,783 in 2022. This was the third lowest among provinces (ahead of Prince Edward Island and Newfoundland and Labrador). The national average unit price for a new motor vehicle was $51,927 with the highest value in Alberta.
Average prices in 2022 were notably higher for trucks/SUVs than for passenger cars. Average prices were also higher for North American manufacturers than for overseas manufacturers.
Source: Statistics Canada. Table 20-10-0001-01 New motor vehicle sales
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