The number of new motor vehicles sold in Newfoundland and Labrador totalled 26,718 in the first three quarters of 2016, representing a decrease of 3.1% over the same period in 2015. Year-to-date car sales were higher than last year until the third quarter, during which those gains were more than offset by losses in the third quarter. An increase in the HST of 2 percentage-point on July 1, 2016 is believed to have contributed to a shift of vehicle purchases to the first half of 2016.
During those first nine months of 2016, the value of car sales and leases was $894.8 million, down 3.1% over the first nine months of 2015.
Canada as a whole recorded an increase (2.8%) in car sales for the first nine months of 2016. The value of national car sales increased by 6.4%.
Statistical Reference: Statistics used in this analysis were current at the time of writing. For the latest in car sale statistics visit the Newfoundland & Labrador Statistics Agency site.