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October 15, 2021NEW MOTOR VEHICLE SALES, AUGUST 2021 With August reference month, year-over-year (August 2021 vs August 2020) and year-to-date (Jan-Aug 2021 vs Jan-Aug 2020) show rebounds in economic activity from the unprecedented declines observed in the first wave of the COVID-19 pandemic.
Year-to-date (Jan-Aug 2021 vs Jan-Aug 2020, unadjusted)
In the first eight months of 2021, Nova Scotia new motor vehicle unit sales increased 26.6%. The 32,092 new motor vehicles sold had a sales value of $1.33 billion, up 31.4% over Jan-Aug 2020.
National new motor vehicles unit sales increased 17.1%. The 1,178,568 new motor vehicles sold in Jan-Aug 2021 represent a sales value of $55.1 billion, up 21.9% over Jan-Aug 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 and Nova Scotia, and with the smallest increases in 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 78.6% of Nova Scotia's unit sales of new motor vehicles (Jan-Aug21) and 84.2% of sales values. Passenger cars accounted for 21.4% of unit sales and 15.8% 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 71.7% of Nova Scotia's new motor vehicles unit sales (Jan-Aug21) and 75.0% of sales values. Overseas manufacturers accounted for 28.3% of unit sales and 25.0% of sales value.
Comparison with pre-COVID period (Jan-Aug 2021 vs Jan-Aug 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 12.1% while sales values were down 4.0%. Nationally, unit sales were down 14.6% while sales values were down 7.4%. Prince Edward Island was the only province to report higher motor vehicle sales for 2021 (both in units and value) than in the same months of 2019. Unit sales and sales values were furthest away from pre-COVID levels in Ontario.
Compared with the first eight 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 up for trucks/SUVs and overseas manufacturers.
Year-over-year (August 2021 vs August 2020, unadjusted)
Nova Scotia's unit sales of new motor vehicles declined 11.9% year-over-year. Sales values were down 7.5%.
National unit sales were down 13.2% with declines in all provinces. The largest declines were observed in Newfoundland and Labrador and Saskatchewan while the smallest declines were reported in British Columbia.
National new motor vehicle sales values were down 8.6% with declines in all provinces except British Columbia. The largest declines were observed in Newfoundland and Labrador and Saskatchewan.
Average Prices (Jan-Aug 2021 vs Jan-Aug 2020)
The average sale price of a new motor vehicle in Nova Scotia was up 3.8% year-to-date. National average prices were up 4.1% with increases in all provinces.
Average new motor vehicle sale prices were $41,392 (Jan-Aug21) in Nova Scotia. National average prices for a new motor vehicle were $46,757; the highest average prices were reported in Alberta and lowest in Newfoundland and Labrador.
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