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December 30, 2021NEW MOTOR VEHICLE SALES, OCTOBER 2021 With October reference month results, year-over-year (October 2021 vs October 2020) and year-to-date (Jan-Oct 2021 vs Jan-Oct 2020) growth rates show rebounds in economic activity from the unprecedented declines observed in the first wave of the COVID-19 pandemic.
Year-to-date (Jan-Oct 2021 vs Jan-Oct 2020, unadjusted)
In the first ten months of 2021, Nova Scotia new motor vehicle unit sales increased 15.0%. The 39,265 new motor vehicles sold had a sales value of $1.63 billion, up 20.0% over Jan-Oct 2020.
National new motor vehicles unit sales increased 8.3%. The 1,456,907 new motor vehicles sold in Jan-Oct 2021 represent a sales value of $68.3 billion, up 13.4% over Jan-Oct 2020.
Unit sales were up in all provinces with the largest increases in Prince Edward Island and British Columbia, and with smallest increases in Ontario and Saskatchewan.
Sales values were up in all provinces with the largest increases in Prince Edward Island, British Columbia and Nova Scotia. The smallest increases were in Saskatchewan, Ontario and Newfoundland and Labrador.
Year-to-date growth in unit sales and sales values were both faster for trucks/SUVs than for passenger cars. Unit sales and sales values grew more quickly for overseas manufacturers than for North American manufacturers.
After growing for several years, trucks/SUVs accounted for 78.3% of Nova Scotia's unit sales of new motor vehicles (Jan-Oct21) and 84.0% of sales values. Passenger cars accounted for 21.7% of unit sales and 16.0% of sales value.
The share of Nova Scotia's new vehicle sales accounted for by North American manufacturers has been falling slowly. North American manufacturers accounted for 71.6% of Nova Scotia's new motor vehicles unit sales (Jan-Oct21) and 74.9% of sales values. Overseas manufacturers accounted for 28.4% of unit sales and 25.1% of sales value.
Comparison with pre-COVID period (Jan-Oct 2021 vs Jan-Oct 2019, unadjusted)
Comparing the latest year-to-date results with the same period in 2019 (prior to the COVID-19 pandemic), Nova Scotia's new motor vehicle unit sales were down 12.9% while sales values were down 5.9%. Nationally, unit sales were down 15.1% while sales values were down 8.1%. Prince Edward Island was the only province to report higher motor vehicle sales in Jan-Oct 2021 than in the same months of 2019 (both in units and value). Unit sales and sales values were furthest away from pre-COVID levels in Ontario.
Compared with the first ten months of 2019, Nova Scotia new motor vehicle unit sales were down more for passenger cars than for trucks and SUVs; unit sales were down more for North Amercian manufacturers than for overseas manufacturers. Sales values were down for passenger cars and North American manufacturers. Sales values were little changed (-0.2%) for trucks/SUVs and up 1.1% for overseas manufacturers.
Year-over-year (October 2021 vs October 2020, unadjusted)
Nova Scotia's unit sales of new motor vehicles declined 22.3% year-over-year. Sales values were down 15.4%.
National unit sales were down 17.1% with declines in all provinces. National new motor vehicle sales values were down 10.0% with declines in all provinces. The largest declines (in both unit sales and sales value) were observed in Manitoba and Nova Scotia while the smallest declines were reported in New Brunswick.
Average Prices (Jan-Oct 2021 vs Jan-Oct 2020)
The average sale price of a new motor vehicle in Nova Scotia was up 4.3% year-to-date. National average prices were up 4.6% with increases in all provinces.
Average new motor vehicle sale prices were $41,509 (Jan-Oct21) in Nova Scotia. National average prices for a new motor vehicle were $46,888; the highest average prices were reported in Alberta and the lowest in Prince Edward Island.
Year-to-date average prices 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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