Detroit's Big Three report higher Canadian sales
By Allison Lampert
MONTREAL (Reuters) - Detroit's Big Three automakers on Monday reported higher Canadian sales for June and for the first half of 2016, on an annual basis, with forecasters expecting another record-breaking year.
June sales hit a new record for the month, rising 7.4 percent to 191,088 on an annual basis, according to Canadian auto analyst Dennis DesRosiers on Monday. Sales of trucks, SUVs and vans grew 13.9 percent, even as sluggish sales of sedans declined 2.9 percent on an annual basis, he wrote in a note.
Fiat Chrysler Automobiles (FCHA.MI: Quote), reported a total of 27,776 vehicles sold in June, up 2 percent compared with the same month in 2015. For the first half of 2016, FCA Canada said it sold 152,439 vehicles, a record high for the automaker.
“At the mid-year point, FCA Canada is on pace for another record-setting sales year,” said Dave Buckingham, Chief
Operating Officer, FCA Canada, in a statement.
According to a June report by Scotiabank, Canadian auto sales are expected to rise to 1.96 million vehicles in 2016, up from a record-breaking 1.9 million units last year.
In May, Canadian auto sales slipped 1.5 percent on an annual basis, the first monthly decline since December 2015, in part because the month had two fewer selling days.
"The market rebounded strongly in June after a slower month in May," DesRosiers said. "Sales finished 6.0 percent higher for the first half of 2016, without a clear sign of slowing down." Continued...