Released on October 14, 2008
In a Statistics Canada report released today, Saskatchewan had the second highest increase in new motor vehicle sales for the month of August on a seasonally unadjusted basis.
There were 4,995 vehicles sold in August 2008, up 7.8 per cent from August 2007 when only 4,633 units were sold. Newfoundland had the highest increase at 11.1 per cent during the same period. Nationally, new motor vehicle sales dropped by seven per cent.
"Although we do expect this may turn around because of recent events in the global financial market, we do anticipate that Saskatchewan will be able to withstand some of the hardship experienced elsewhere," Enterprise and Innovation Minister Lyle Stewart said. "We are confident that consumers here in the province will still be able to afford those big ticket purchases in spite of the current market conditions."
On a seasonally adjusted basis, Saskatchewan had the highest percentage increase in the nation between July and August 2008, posting a 1.1 per cent increase during that period. New motor vehicle sales nationally were down by 2.3 per cent over that same period.
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For more information, contact:
Deb Young
Enterprise and Innovation
Regina
Phone: 306-787-6315
Email: Deb.Young@gov.sk.ca