UPDATE 2-Canadian auto sales headed for record year - consultant

Tue Nov 3, 2015 4:53pm EST
 
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(Adds commentary from auto analyst; figures for Toyota and other carmakers)

By Allison Lampert

MONTREAL Nov 3 (Reuters) - Canadian auto sales beat expectations in October, rising 5.1 percent compared with a record-setting October 2014, according to data compiled by DesRosiers Automotive Consultants on Tuesday.

Total light vehicle sales rose to 163,053 cars and trucks, as Fiat Chrysler Automobiles NV and General Motors Co reported higher Canadian sales for the month.

Ford Motor Co reported roughly flat Canadian vehicle sales in October.

"As we continue to close in on year end, setting a record year in 2015 is looking less like a possibility and more like a reality," DesRosiers wrote in a note.

The data came as the U.S. auto industry is on track for a record year of annual sales, General Motors said on Tuesday. The top U.S. automaker and its rivals reported October sales that far exceeded expectations despite concerns about a slowdown in consumer spending and stagnant wages.

In Canada, sales of most luxury brands hit double-digit growth, with Porsche AG reporting a 45.4 percent rise for the month in comparison with October 2014, DesRosiers wrote.

Volkswagen AG reported 8.3 percent higher sales in Canada for the month despite the diesel emissions scandal which continues to rock the European carmaker, DesRosiers wrote. On Tuesday, Volkswagen said it found data "inconsistencies" on carbon dioxide emissions for 800,000 more cars.   Continued...