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Posted:06/04/2008 Car Sales Commentary, Jan to Mar. 2008 Next due: Aug. 20, 2008
Car Sales | CPI | Investment | Labour Markets | Oil Production | Population | Retail Sales  [back to main]


Car Sales Up 26.5% in First Quarter 2008  

New motor vehicle sales totalled 6,253 in the first three months of 2008, representing an increase of 26.5% over the same period of 2007 and marking a record high. The increase in sales reflects more attractive dealer incentives (e.g., lower vehicle prices) and employment and wage gains last year and into the first quarter of 2008. Also, some areas of the province are noticing an increase in new vehicle sales to consumers who work in western Canada for part of the year.   

The value of car sales and leases was $172 million in the first quarter of 2008, up 24.2% over the same period of 2007. 

National
Canada as a whole also recorded an increase (6.9%) in car sales in first quarter 2008, albeit much lower than that of the province. The value of national car sales increased by 2.6% over the January to March 2007 period.

 
New Motor Vehicle Sales
Newfoundland and Labrador
 
Source: Statistics Canada

 
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 and check the release dates on the Statistics Canada site.

Economic Research & Analysis Division, Department of Finance - (709) 729-3255 - infoera@gov.nl.ca


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