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January 17, 2022NEW MOTOR VEHICLE SALES, NOVEMBER 2021 With November reference month results, year-over-year (November 2021 vs November 2020) and year-to-date (Jan-Nov 2021 vs Jan-Nov 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-Nov 2021 vs Jan-Nov2020, unadjusted)
In the first eleven months of 2021, Nova Scotia new motor vehicle unit sales increased 13.4%. The 42,253 new motor vehicles sold had a sales value of $1.78 billion, up 19.6% over Jan-Nov 2020.
National new motor vehicles unit sales increased 6.3%. The 1,572,080 new motor vehicles sold in Jan-Nov 2021 represent a sales value of $74.0 billion, up 11.4% over Jan-Nov 2020.
Unit sales were up in all provinces with the largest increases in Prince Edward Island and Nova Scotia, 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. The smallest increases were 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 78.5% of Nova Scotia's unit sales of new motor vehicles (Jan-Nov21) and 84.2% of sales values. Passenger cars accounted for 21.5% 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 71.8% of Nova Scotia's new motor vehicles unit sales (Jan-Nov21) and 75.3% of sales values. Overseas manufacturers accounted for 28.2% of unit sales and 24.7% of sales value.
Comparison with pre-COVID period (Jan-Nov 2021 vs Jan-Nov 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 13.1% while sales values were down 5.0%. Nationally, unit sales were down 15.6% while sales values were down 8.5%. Unit sales were down in all provinces compared with Jan-Nov 2019. Prince Edward Island was the only province to report higher motor vehicle sales values in Jan-Nov 2021 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 eleven 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 as well as for both North American and overseas manufacturers. Sales values were up slightly (0.7%) for trucks/SUVs.
Year-over-year (November 2021 vs November 2020, unadjusted)
Nova Scotia's unit sales of new motor vehicles declined 5.4% year-over-year. Sales values were up 14.3% because of a 20.8% year-over-year increase in average unit prices of vehicles sold in Nova Scotia.
National unit sales were down 12.8% with declines in all provinces. National new motor vehicle sales values were down 6.2% with declines in 5 of 10 provinces. The largest declines (in both unit sales and sales value) were observed in British Columbia. Saskatchewan reported the smallest decline in unit sales while Nova Scotia reported the largest gain in sales values.
Average Prices (Jan-Nov 2021 vs Jan-Nov 2020)
The average sale price of a new motor vehicle in Nova Scotia was up 5.5% year-to-date. National average prices were up 4.8% with increases in all provinces.
Average new motor vehicle sale prices were $42,053 (Jan-Nov21) in Nova Scotia. National average prices for a new motor vehicle were $47,054; 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