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December 13, 2022NEW MOTOR VEHICLE SALES, OCTOBER 2022 Year-to-date (January-October 2022 vs January-October 2021, unadjusted)
In the first ten months of 2022, Nova Scotia new motor vehicle unit sales decreased 16.6%. The 32,743 new motor vehicles sold had a sales value of $1,479.7 million down 9.2% from the first ten months of 2021.
National new motor vehicles unit sales decreased 7.8%. Canada's 1,340,810 new motor vehicles sold in January-October 2022 represent a sales value of $68.87 billion, up 1.4% from the first ten months of 2021.
Unit sales were down in all provinces, with largest declines in Prince Edward Island, Newfoundland and Labrador and Nova Scotia. The smallest decline was in Saskatchewan.
Sales values were up in five provinces, with larger gains in Ontario and Saskatchewan. The largest decline was in Prince Edward Island.
Year-to-date decline in unit sales and in sales values were faster for passenger cars than for trucks/SUVs and faster for overseas manufacturers than for North American manufacturers.
Trucks and SUVs make up the bulk of the market in Nova Scotia. In October 2022, trucks/SUVs accounted for 83.5% of vehicles sold in Nova Scotia and 87.9% of sales values.
North American manufacturers accounted for 74.5% of unit sales and 78.4% of sales values in Nova Scotia during October 2022.
Year-over-year (October 2022 vs October 2021, unadjusted)
Compared with October 2021, Nova Scotia unit sales of new vehicles were down 2.5%. National unit sales were up 0.8% with gains in six provinces. Prince Edward Island reported the largest gain while Alberta reported the largest decline.
The sales values of new vehicles increased 3.1% in Nova Scotia from October 2021 to October 2022. National sales values were up 11.4% with gains in all provinces. Prince Edward Island reported the largest increase while Alberta reported the slowest rise (followed by Nova Scotia).
Nova Scotia's unit sales and sales values in October 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 up from October 2021 to October 2022, but 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 8.9% comparing January-October 2022 with the same months of 2021. National average prices were up 10.0% with increases in all provinces led by New Brunswick.
The average unit price of a new motor vehicle in Nova Scotia was $45,190 in the first ten months of 2022. This was the third lowest among provinces (ahead of Prince Edward Island and Newfoundland and Labrador). The national average unit price for a new motor vehicle was $51,365 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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