Canadian New Motor Vehicle Sales Rise In July

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Canadian new motor vehicle sales rose in July compared to the previous month, according to data released by Statistics Canada Tuesday. A strong gain in North-American built passenger car sales led the advance.

The number of new motor vehicles sold in July climbed 5.3% to 126,665 units, reflecting especially strong sales in Ontario. Sales of both passenger cars and trucks were up. Sales slipped a revised 0.5% in June.

After a sharp decline at the end of 2008, sales of new motor vehicles have generally been rising since the beginning of 2009. On a year-over-year basis, July's sales were 8.5% lower than July 2008.

The number of new passenger cars sold in July rose by 6.3% to 63,025 vehicles. North American-built passenger cars were responsible for this increase with a 15.1% rise, the largest increase for this category since January 2008. The number of overseas-built passenger cars sold fell 4.4%, a third consecutive monthly decline.

(Market News Provided by RTTNews)