Canadian Manufacturing

DesRosier report shows auto sales grew in January 2022 compared to year prior

Auto sales inched up 0.6 per cent in January from a year earlier as vehicle shortages caused by semiconductor supply issues continue to weigh on the industry.

February 2, 2022   The Canadian Press

DesRosiers Automotive Consultants says Canadian auto sales inched up 0.6 per cent in January from a year earlier as vehicle shortages caused by semiconductor supply issues continue to weigh on the industry.

The consultancy estimates new light vehicles sales came in at 91,411 units for the month, up from 90,890 in 2021.

DAC says the seasonally adjusted annual rate of sales came in at 1.66 million for the month.

Desrosiers managing partner Andrew King said in the report that while January is the usually the lowest sales month of the year, there is clearly still a discrepancy between market demand and supply.

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The auto sector globally has been hit by a shortage of semiconductor chips caused by pandemic-related production issues and a surge in demand for electronics.

In January 2020, there were an estimated 109,616 new light vehicles sold in the month.