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April 14, 2022NEW MOTOR VEHICLE SALES, FEBRUARY 2022 Year-to-date (Jan-Feb 2022 vs Jan-Feb 2021, unadjusted)
In the first two months of 2022, Nova Scotia new motor vehicle unit sales decreased 20.3%. The 4,680 new motor vehicles sold had a sales value of $201.7 million down 15.2% over the first two months of 2021.
National new motor vehicles unit sales decreased 4.5%. The 198,440 new motor vehicles sold in January and February of 2022 represent a sales value of $9.85 billion, up 0.1% over January and February of 2021.
Unit sales were down in all provinces except Quebec, and with largest declines in Manitoba and Nova Scotia.
Sales values were down in seven provinces with the largest declines in Manitoba, Nova Scotia and Prince Edward Island. The largest increase was in Quebec.
Year-to-date decline in unit sales and in sales values were slightly faster for passenger cars than for trucks/SUVs. Unit sales of vehicles made by North American manufacturers declined faster than those of overseas manufacturers. However, the decline in sales values was larger for overseas manufacturers than it was for North American manufacturers.
Trucks and SUVs make up the bulk of the market in Nova Scotia. In January and February, trucks/SUVs accounted for 82.9% of vehicles sold in Nova Scotia and 87.8% of sales values.
North American manufacturers accouted for 71.5% of unit sales and 75.8% of sales values in Nova Scotia during the first two months of the year.
Year-over-year (February 2022 vs February 2021, unadjusted)
Compared with February 2021, Nova Scotia unit sales of new vehicles were down 19.8%. National unit sales were down 11.0% with declines in every province. Manitoba and Nova Scotia reported the largest declines while Newfoundland and Labrador had the smallest drop.
The sales values of new vehicles fell 15.5% in Nova Scotia from February 2021 to February 2022. National sales values were down 7.6% with declines in all provinces except New Brunswick. Manitoba and Prince Edward Island reported the largest declines.
December, January and February are typically slower months for unit sales and sales values of cars.
Average Prices
The average sale price of a new motor vehicle in Nova Scotia was up 6.4% comparing January-February 2022 with the same months of 2021. National average prices were up 4.9% with increases in all provinces.
The average unit price of a new motor vehicle in Nova Scotia was $43,106 in January and February of 2022. This was the third lowest among provinces (after Prince Edward Island and Newfoundland and Labrador). The national average unit price for a new motor vehicle was $49,633 with the highest value in Alberta.
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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