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September 15, 2022NEW MOTOR VEHICLE SALES, JULY 2022 Year-to-date (January-July 2022 vs January-July 2021, unadjusted)
In the first seven months of 2022, Nova Scotia new motor vehicle unit sales decreased 18.3%. The 23,052 new motor vehicles sold had a sales value of $1,027.0 million down 12.0% over the first seven months of 2021.
National new motor vehicles unit sales decreased 9.7%. Canada's 932,047 new motor vehicles sold in January-July 2022 represent a sales value of $47.11 billion, down 2.1% from the first seven months of 2021.
Unit sales were down in all provinces, with largest declines in Newfoundland and Labrador. The smallest decline was in Ontario.
Sales values were down in all provinces except Ontario and Saskatchewan. The largest decline was in Newfoundland and Labrador.
Year-to-date decline in unit sales and in sales values were faster for passenger cars than for trucks/SUVs and faster for oversease manufacturers than for North American manufacturers.
Trucks and SUVs make up the bulk of the market in Nova Scotia. In July 2022, trucks/SUVs accounted for 80.3% of vehicles sold in Nova Scotia and 85.5% of sales values.
North American manufacturers accounted for 72.6% of unit sales and 77.3% of sales values in Nova Scotia during July 2022.
Year-over-year (July 2022 vs July 2021, unadjusted)
Compared with July 2021, Nova Scotia unit sales of new vehicles were down 26.2%. National unit sales were down 13.8% with declines in all provinces. Nova Scotia reported the largest decline while Saskatchewan reported the smallest.
The sales values of new vehicles declined 16.6% in Nova Scotia from July 2021 to July 2022. National sales values were down 4.4% with gains only in Saskatchewan and Alberta. Prince Edward Island reported the largest decline.
Nova Scotia's unit sales and sales values in July 2022 were well below levels typically reported in this month in prior years.
Across Canada, national unit sales and sales values of motor vehicles were down from July 2021 to July 2022 and remain below levels from the same month in the years prior to the pandemic.
Average Prices
The average sale price of a new motor vehicle in Nova Scotia was up 7.8% comparing January-July 2022 with the same months of 2021. National average prices were up 8.4% with increases in all provinces led by New Brunswick.
The average unit price of a new motor vehicle in Nova Scotia was $44,550 in the first seven months of 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 $50,550 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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