RICHMOND HILL, Ont. — DesRosiers Automotive Consultants Inc. says May brought hope after several years of disrupted sales patterns, as vehicle sales rose.
The consultancy firm says total light vehicle sales in May were up 13.5 per cent from a year ago.
Sales totalled 159,705 units in May, up 10.9 per cent from April.
However, sales were still 21.0 per cent below pre-pandemic levels.
But the firm says that with the economy proving resilient and a predicted recession not yet in sight, there is optimism that the market could see a stronger summer for sales.
DesRosiers managing partner Andrew King says in a statement that the seasonally adjusted annual rate for May was 1.54 million units, breaking a three-month run of consecutive declines.
This report by The Canadian Press was first published June 2, 2023.
The Canadian Press