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March 20, 2023NEW MOTOR VEHICLE SALES, JANUARY 2023 Year-Over-Year (January-2023 vs January-2022, unadjusted)
In January 2023, Nova Scotia new motor vehicle unit sales increased 1.0% when compared to January 2022. The 2,314 new motor vehicles sold had a sales value of $112,208 million up 13.3% from January 2022.
National new motor vehicles unit sales increased 8.8%. Canada's 104,250 new motor vehicles sold in January 2023 represent a sales value of $5,865.8 billion, up 22.4% from January 2022.
Unit sales were up in all provinces with the exception of Prince Edward Island. Manitoba posted the largest increase in unit sales while Nova Scotia and British Columbia recorded the smallest gain.
Sales values were up in all provinces in January 2023. The largest increase was in Manitoba and the smallest gain was in Prince Edward Island.
Year-over-year gain in unit sales and in sales values was driven by gains in trucks/SUVs and larger for North American manufacturers. Unit sales for passenger cars were down in January from a year ago.
Trucks and SUVs make up the bulk of the market in Nova Scotia. In January 2023, trucks/SUVs accounted for 83.5% of vehicles sold in Nova Scotia and 87.8% of sales values.
North American manufacturers accounted for 74.1% of unit sales and 77.0% of sales values in Nova Scotia in January 2023.
Year-over-year (January 2023 vs January 2022, unadjusted)
Nova Scotia's unit sales and sales values in January 2023 were on par with levels typically reported in this month in prior years.
Across Canada, national unit sales were up compared the same month in the previous two years but were below levels from the same month in the years prior to the pandemic. Nationally, sales values of motor vehicles in January 2023 were at their highest level when compared to the same month in the previous eigth years.
Average Prices
The average sale price of a new motor vehicle in Nova Scotia was up 12.1% comparing January 2023 with the same month of 2022. National average prices were up 12.6% with increases in all provinces led by Quebec.
The average unit price of a new motor vehicle in Nova Scotia was $48,491 in January 2023. 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 $56,267 with the highest value in Alberta.
In January 2023, 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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