Released on December 12, 2008
New motor vehicle sales in the province bucked the national trend in October, posting the second highest increase in the nation on a seasonally unadjusted basis year-over-year, and the highest percentage increase on an adjusted basis between September and October 2008.
Today Statistics Canada reported new car sales in the province jumped by 12 per cent (seasonally unadjusted) between October 2007 and October 2008. There were 4,054 vehicles sold in October of this year, compared to 3,620 the previous October. Newfoundland and Labrador was the only province with a higher percentage increase at 18.9 per cent. Nationally, car sales were up by 2.0 per cent.
"In October, we were already seeing the signs of a stressed economy on a national and international front," Enterprise and Innovation Minister Lyle Stewart said. "Clearly, we will be impacted by those events, but consumers have much more confidence in the province and are still making large purchases that support our local and national economies."
On a seasonally adjusted basis, new vehicle sales increased by 5.6 per cent between September and October 2008, the highest percentage increase among the provinces. Nationally, new car sales dropped by 0.9 per cent. Only Saskatchewan and Manitoba had an increase in new car sales during this same period.
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For more information, contact:
Deb Young
Enterprise Saskatchewan
Regina
Phone: 306-798-0503
Email: Deb.Young@gov.sk.ca