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August 15, 2023NEW MOTOR VEHICLE SALES, JUNE 2023 Year-to-date (January-June 2023 vs January-June 2022, unadjusted)
In the first half of 2023, Nova Scotia's new motor vehicle unit sales increased 2.9% when compared to the same period in 2022. The 20,101 new motor vehicles sold had a sales value of $974.1 million up 9.6% from January-June 2022.
National new motor vehicles unit sales increased 8.2%. Canada's 843,918 new motor vehicles sold in the first half of 2023 represent a sales value of $46.44 billion, up 16.0% from January-June 2022.
Unit sales and sales values were up in all provinces. Newfoundland and Labrador and Ontario posted the largest increases in unit sales while the slowest growth was reported in Saskatchewan.
Newfoundland and Labrador and Prince Edward Island reported the fastest gains in sales values while Manitoba reported the slowest growth.
Year-to-date gains in unit sales were reported for trucks/SUVs as well as for both North American and overseas manufacturers. Only passenger cars reported declining unit sales (reflecting a long-standing shift in the market to more trucks/SUVs. Sales values were up for both trucks/SUVs and passenger cars. Although unit sales were up more for North American manufacturers than for overseas manufacturers, increases in sales values for overseas manufacturers outpaced gains in sales values for North Amercian producers.
Trucks and SUVs make up the bulk of the market in Nova Scotia. In June 2023, trucks/SUVs accounted for 79.6% of vehicles sold in Nova Scotia and 84.7% of sales values.
North American manufacturers accounted for 72.8% of unit sales and 75.6% of sales values in Nova Scotia in June 2023.
Year-over-year (June 2023 vs June 2022, unadjusted)
Compared with June 2022, Nova Scotia unit sales of new vehicles were up 1.4%. National unit sales were up 8.4% with gains in all provinces except Manitoba and Saskatchewan. Prince Edward Island posted the fastest gain in year-over-year unit sales.
The sales values of new vehicles increased 3.6% in Nova Scotia from June 2022 to June 2023. National sales values were up 9.3% with gains in all provinces except Manitoba and Saskathcewan. Prince Edward Island recorded the largest gain.
June is typically one of the months in which the highest number of new motor vehicle unit sales are recorded. Although June 2023 unit sales in Nova Scotia were above those of the same month in 2022, they were well below pre-pandemic sales levels and even below sales in June 2021.
Nova Scotia's motor vehicle sales values also typically peak in the spring months. Motor vehicle sales values in June 2023 were above those reported in the same months of previous years, but remained below pre-pandemic levels despite rising average unit prices.
Across Canada, national unit sales were up compared the same month in the previous year but were below levels from the same month in the years prior to the pandemic.
National sales values for June 2023 were higher than the same time last year, and even exceed sales values reported in the month of June prior to the pandemic.
Average Prices
The average sale price of a new motor vehicle in Nova Scotia was up 6.6% in the first half of 2023 when compared to the same period in 2022. National average prices were up 7.2% with increases in all provinces led by Prince Edward Island.
The average unit price of a new motor vehicle in Nova Scotia was $48,461 in the first half of 2023. This was the second lowest among provinces (ahead of Newfoundland and Labrador). The national average unit price for a new motor vehicle was $55,029 with the highest value in Alberta.
In the first half of 2023, average prices were notably higher for trucks/SUVs than for passenger cars. For Nova Scotia note the unusual spike in average unit price for passenger cars in March 2023. This is related in part to the doubling of passenger car sales values in that month.
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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