8.2 C
New York
March 28, 2024
Worship Media
Business

DesRosiers says auto sales inch up 0.6 per cent in January from a year earlier

TORONTO –

DesRosiers Automotive Consultants says Canadian auto sales inched up 0.6 per cent in January from a year earlier as vehicle shortages caused by semiconductor supply issues continue to weigh on the industry.

The consultancy estimates new light vehicles sales came in at 91,411 units for the month, up from 90,890 in 2021.

DAC says the seasonally adjusted annual rate of sales came in at 1.66 million for the month.

Desrosiers managing partner Andrew King said in the report that while January is the usually the lowest sales month of the year, there is clearly still a discrepancy between market demand and supply.

The auto sector globally has been hit by a shortage of semiconductor chips caused by pandemic-related production issues and a surge in demand for electronics.

In January 2020, there were an estimated 109,616 new light vehicles sold in the month.

This report by The Canadian Press was first published Feb. 2, 2022.

Click Here to Visit Orignal Source of Article https://www.ctvnews.ca/autos/desrosiers-says-auto-sales-inch-up-0-6-per-cent-in-january-from-a-year-earlier-1.5764629

Related posts

Supply ‘insufficient’ to meet current Vancouver market demand: real estate board

CTV News

Ontario woman paid below minimum wage for months reaches $16,000 settlement with former employer

CTV News

National home prices hit record high – here’s what you can get for less

CTV News

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Privacy & Cookies Policy