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January 19, 2023NEW MOTOR VEHICLE SALES, NOVEMBER 2022 Year-to-date (January-November 2022 vs January-November 2021, unadjusted)
In the first eleven months of 2022, Nova Scotia new motor vehicle unit sales decreased 15.6%. The 35,646 new motor vehicles sold had a sales value of $1,622.0 million down 8.6% from the first eleven months of 2021.
National new motor vehicles unit sales decreased 6.8%. Canada's 1,464,648 new motor vehicles sold in January-November 2022 represent a sales value of $75.54 billion, up 2.0% from the first eleven months of 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 five provinces, with larger gains in Ontario and Saskatchewan. The largest decline was in Newfoundland and Labrador, Prince Edward Island, and Nova Scotia.
Year-to-date decline in unit sales and in 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 November 2022, trucks/SUVs accounted for 83.2% of vehicles sold in Nova Scotia and 88.1% of sales values.
North American manufacturers accounted for 73.9% of unit sales and 79.8% of sales values in Nova Scotia during November 2022.
Year-over-year (November 2022 vs November 2021, unadjusted)
Compared with November 2021, Nova Scotia unit sales of new vehicles were down 1.9%. National unit sales were up 5.5% with gains in six provinces. Prince Edward Island reported the largest gain while Alberta reported the largest decline.
The sales values of new vehicles decreased 2.5% in Nova Scotia from November 2021 to November 2022. National sales values were up 9.6% with gains in most provinces, while Nova Scotia reported the only decline (-2.5%). Prince Edward Island and Manitoba reported the largest increases.
Nova Scotia's unit sales and sales values in November 2022 were below levels typically reported in this month in prior years.
Across Canada, national unit sales and sales values of motor vehicles were up from November 2021 to November 2022, but remained below levels from the same month in the years prior to the pandemic.
Average Prices
The average sale price of a new motor vehicle in Nova Scotia was up 8.3% comparing January-November 2022 with the same months of 2021. National average prices were up 9.5% 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 $45,503 in the first eleven months of 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 $51,574 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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