Finance

Economic and Project Analysis

Posted: April 2017
Car Sales Commentary, 2016
Next due: late June 2017

Car Sales Decreased by 3.8% in 2016

The number of new motor vehicles sold in Newfoundland and Labrador totalled 33,687 in 2016, representing a decrease of 3.8% over 2015. Car sales were higher than 2015 in the first half of the year, but those gains were more than offset by losses in the second half of the year. An increase in the HST of 2 percentage points on July 1, 2016 is believed to have contributed to a shift of vehicle purchases to the first half of 2016.

During 2016, the value of car sales and leases was $1,175.5 million, up 1.4% over 2015.

National

Canada as a whole recorded an increase (2.3%) in car sales for the year. The value of national car sales increased by 7.6%.

New Motor Vehicle Sales
Newfoundland and Labrador

New Motor Vehicle Sales, quarterly

Statistical Reference: Statistics used in this analysis were current at the time of writing. For the latest in car sale statistics visit the Newfoundland & Labrador Statistics Agency site.


 
Economic and Project Analysis Division, Department of Finance - (709) 729-3255 - infoera@gov.nl.ca

 
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