August new-vehicle gross sales had been at their lowest in additional than twenty years, in line with DesRosiers Automotive Consultants (DAC).

Automakers offered an estimated 126,534 new gentle automobiles final month, down 13.9 per cent when put next with the identical month a yr in the past and the bottom August complete since 1999, the consultancy mentioned.

The month-to-month seasonally adjusted annual charge of gross sales (SAAR) got here in underneath 1.4 million items. DAC mentioned that was “broadly within the vary seen over the previous six months and missing any substantive glimmer of hope for a return to a extra regular gross sales tempo.”

The agency mentioned many within the trade had been hoping August would “characterize the tipping level through which the market would reverse course and begin to present gross sales positive aspects.”

“Sadly, this was undoubtedly not the case right here in Canada.”

Meawhile, automakers are on tempo to promote about 1.57 million new automobiles in Canada in 2022, in line with AutoForecast Options (AFS), a U.S.-based forecasting firm.

The agency says that’s down 5 per cent when put next with the 1.66 million offered in 2021. However, it’s almost as little as the 1.55 million offered throughout 2020, when the COVID-19 pandemic shuttered factories and restricted buying at dealerships throughout Canada.

“Canada’s wrestle to maintain up with final yr’s lacklustre gross sales efficiency continues because the nation hasn’t seen a year-over-year enchancment since January and the hole since has been persistently vast,” the corporate mentioned in its newest AutoForecast Month-to-month publication, issued Aug. 31.

The report didn’t embrace August gross sales, which had been considerably down amongst these automakers nonetheless reporting on a month-to-month foundation Thursday.

AFS warned stock shall be low for “a very long time.”

“With inventories as little as they’re, it can take years of over-building to revive vendor inventory to an enough stage to help the prevailing demand,” the agency mentioned.

Toyota, the largest vendor by quantity that also reviews month-to-month in Canada, noticed its gross sales plunge 27 per cent to fifteen,555 when put next with the identical month a yr in the past, in line with the Automotive Information Analysis and Knowledge Heart in Detroit.

Honda gross sales fell 32.7 per cent to 9,939. 

Subaru gross sales had been almost down half, falling 41.6 per cent to three,417 in August.

Kia gross sales had been off 38.6 per cent to five,125 and Hyundai gross sales had been down 16.4 per cent to 9,901.

Genesis, Hyundai’s luxurious model, managed a small improve, up 0.8 per cent to 530.