New vehicle sales show strongest quarter in a decade: Stats Can

New car and truck sales in the first three months of the year showed their strongest gain in 10 years, Statistics Canada said Friday. 

Despite a slight drop in March, January’s exceptional sales drove a 9.1 per cent gain in the first quarter of 2008, compared with the fourth quarter of 2007. The increase represents a recovery from a downturn in the second half of last year.

New passenger cars were the biggest draw among those buying new vehicles, with a rise in sales of nearly 18 per cent over the last quarter of 2007, which represents the largest increase since 1976. Sales of overseas-built passenger cars in particular have been rising since November. 

Statistics Canada attributed the overall increase to lower prices, more rebates and incentives such as better financing, along with a one percentage point reduction in the GST. 

Statistics Canada says it expects the number of new motor vehicles sold in April will remain relatively unchanged.




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