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January Auto Sales: Wrap Up of Global 2023 Auto Sales
Canadian auto sales slowed by -4.9% m/m (sa) in January, starting the year at 1.69 mn (saar) units according to Wards Automotive (chart 1). January’s seasonally adjusted pace of annualized new light vehicle sales is coming on the heels of November and December’s average 1.78 mn (saar), the two fastest seasonally adjusted months since the first half of 2021 when supply-side constraints were becoming most acute. New auto sales for the first month of the year are in line with the 1.68 mn units through 2023 and up 2.1% y/y (nsa) from the same month a year prior. Canada’s labour market continues to support ... (full story)