Vehicle sales are, by nature, cyclical. The automotive industry can see surges that last for months on end, and then year-over-year drops that never seem to end.
In Canada we are currently in the midst of the second scenario. The last month to record an increase in vehicles in comparison with the same month the year before was February 2018. Since then, the total number of vehicle units sold each month has been lower than the equivalent period the year prior. The losing streak now stands at 16 months.
Beyond that streak, June’s sales drop was particularly drastic. And even though no one in the industry admits to feeling any panic for the moment, the last several months have been characterized by drops across many manufacturers.
June 2019’s final totals show 9.5% fewer sales compared with June 2018.