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May 13, 2022NEW MOTOR VEHICLE SALES, MARCH 2022 Year-to-date (Jan-Mar 2022 vs Jan-Mar 2021, unadjusted)
In the first three months of 2022, Nova Scotia new motor vehicle unit sales decreased 20.9%. The 8,182 new motor vehicles sold had a sales value of $355.0 million down 18.8% over the first three months of 2021.
National new motor vehicles unit sales decreased 9.3%. The 346,077 new motor vehicles sold in January-March 2022 represent a sales value of $17.15 billion, down 4.7% over January-March of 2021.
Unit sales were down in all provinces, with largest declines in Manitoba and Nova Scotia.
Sales values were down in all provinces except Quebec, with the largest declines in Manitoba, Nova Scotia, and Prince Edward Island.
Year-to-date decline in unit sales and in sales values were faster for trucks/SUVs than for passenger cars. Unit sales and sales values of vehicles made by North American manufacturers declined faster than those of overseas manufacturers.
Trucks and SUVs make up the bulk of the market in Nova Scotia. In January-March, trucks/SUVs accounted for 81.3% of vehicles sold in Nova Scotia and 86.1% of sales values.
North American manufacturers accounted for 71.6% of unit sales and 75.4% of sales values in Nova Scotia during the first three months of the year.
Year-over-year (March 2022 vs March 2021, unadjusted)
Compared with March 2021, Nova Scotia unit sales of new vehicles were down 22.4%. National unit sales were down 16.8% with declines in every province. Newfoundland and Labrador and Nova Scotia reported the largest declines while Prince Edward Island had the smallest drop.
The sales values of new vehicles fell 23.8% in Nova Scotia from March 2021 to March 2022. National sales values were down 12.7% with declines in all provinces. Nova Scotia and Newfoundland and Labrador reported the largest declines while Prince Edward Island had the smallest drop.
Unit sales and sales values increased in March 2022 from February 2022. Unit sales and sales values were lower in March 2022 compared with March 2021 and March 2019.
Average Prices
The average sale price of a new motor vehicle in Nova Scotia was up 2.7% comparing January-March 2022 with the same months of 2021. National average prices were up 5.1% with increases in all provinces.
The average unit price of a new motor vehicle in Nova Scotia was $43,389 in January-March 2022. This was the third lowest among provinces (after Prince Edward Island and Newfoundland and Labrador). The national average unit price for a new motor vehicle was $49,553 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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