Paul Martin's Business Update - November 19th

Paul Martin's Business Update - November 19th

The teeter-totter graph that tracks new vehicles sales in this province is quite evident in the monthly figures for September on this particular metric. It is an important one to watch to check the pulse of consumer attitudes. New vehicle purchases are a big decisions and when they show big moves one way or another, it can be a signal of a change in consumer sentiment.

The September figures were down from August but remained above the critical 5,000 new vehicles a month threshold. This particular figure was interesting because it maintained a trend we’ve been seeing. May and June were big months. July was softer then August was big and September is a bit lower.

Weather and things such as the timing of harvest can distort these figures. And given that September was all-hands-on-deck in getting off the biggest grain crop in the province’s history, it is probably reasonable that sales would be softer in that month. That was especially evident in the sale of new trucks which were down about 10 per cent from August.

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