Exeter Finance’s Post

Canadian Auto Provincial Sales May 2024 May was a month of notable variation in provincial performance. While new light vehicle sales increases were noted for all of the provinces, they ranged from an estimated increase of 1.4% in Ontario to a 27.5% increase in Newfoundland. British Columbia, similar to Ontario, underperformed for the month and noted only a 2.0% sales increase among reporting manufacturers. Alberta also noted a single digit increase of 7.3% but did pull ahead of the national average. On the other hand, New Brunswick following Newfoundland at a distance, outperformed the national average, and secured a strong 17.2% increase for the month. For the year thus far, British Columbia noted the lowest increase among the provinces at 9.6%, with Alberta and Ontario not far off at 10.0% and 10.8% respectively. “The new light vehicle sales market has lost some of the steam it showed earlier in 2024” commented Andrew King, Managing Partner at DAC. He continued, “While sales continue to grow year-over-year, volatility at the provincial level appears to have returned in force for May.” In total, an estimated 169 thousand new light vehicles were sold in May 2024, a 5.7% increase from May 2023 when 160 thousand units were sold.

A guide to selling in the fast lane

Canadian Provincial Auto Sales September 2023 New light vehicle sales among reporting manufacturers were overwhelmingly positive at the provincial level in September 2023. For the month, sales increases were widespread across Canada with all ten provinces showing double digit increases. The largest of them—in percentage terms—was noted in Prince Edward Island, up 39.4%. Nova Scotia followed at a distance with a 28.6% new light vehicle sales increase. Among the larger volume provinces, Alberta noted a 27.7% sales increase over September 2022. Ontario added the most volume at over ten thousand units thanks to a 19.4% increase over last September. The lowest increase was noted in Newfoundland, still up 10.3%. For the year so far, Ontario noted the largest sales increase at 11.8% with the lowest noted in Saskatchewan at just 0.2%. “With new light vehicle sales up now for eleven consecutive months, it is unsurprising that all of the regions in Canada have shown sales increases over last year” commented Andrew King, Managing Partner at DAC. He continued “Variation still exists, but the recovery in sales from the semiconductor shortages is now broadly based from coast to coast to coast.” Total new light vehicle sales among reporting manufacturers in September reached an estimated 155,259 units sold, up 19.0%. Year-to-date, sales increased 10.1%, reaching 1.26 million units.

Provincial Auto Sales December 2023 Throughout 2023, new light vehicle sales increases were widespread across Canada. All of the provinces noted sales increases compared to the previous year. The standout performer was Alberta, which saw sales from reporting manufacturers increase 14.3%. British Columbia followed closely with an increase of 13.3%. Despite some slower growth in the tail end of the year, Ontario still noted the third largest increase at 12.2% over 2022. In contrast to Alberta, Saskatchewan noted the lowest increase of the year at 6.2%, in part due to outperforming the market in 2022 and the stronger resulting comparable. For December, estimated provincial sales showed more variety in growth, ranging from an estimated 7.4% increase in Ontario to a 27.3% increase in Newfoundland. “At the provincial level, the most notable factor in 2023 was the breadth of gains across the country” commented Andrew King, Managing Partner at DAC. He continued “Improved vehicle availability was the dominant industry dynamic in 2023 and easily outweighed any regional variations in economic performance.” For the year overall, total new light vehicle sales among reporting manufacturers reached 1.664 million units sold, an increase of 11.8% over 2022. For December, estimated sales increased 10.5%, rising to just over 120 thousand units. #radio #radioadvertising #autoindustry

Stop only looking at your commission at the end of the month. Plan your car sales for the month ahead by tracking these two metrics.

Last night at Bentley University we had a great case study sales session utilizing Creonte Tire Ctr on how to approach customers effectively. The video highlighted the importance of role-playing, questioning, and listening to the customer to find out the best way to begin the sales call. We learned that the approach is the most critical part of any sales call and that the first few words you say can make or break the entire interaction. To ensure success, it's essential to practice each step in the sales process - plan, approach, dialogue, close, and follow up. Remember, if your first selling words aren't in line with what the customer is expecting, you may lose them. So, take the time to master the approach and reap the rewards of a successful sales call! #approach #salescalls #effectiveselling

A dumb mistake costs the salesman a sale, future sales and good referrals Quick story I received a promo from a local car dealership to test drive a car. The salesman came with me for the test drive and started talking to me about the great features of the car - horsepower, torque, 0-60 stats etc. none of which I cared about at all. It was actually annoying. If you are doing any kind of sales, DON'T DO THIS. He could have asked me many questions about me. What do I like about my last car? What do I hate about my last car? Who else will be driving the car besides me? What is most important to me about finding the right car? ETC. He would have found out how to serve me in the process. He could have said, "I don't think this car is for you. However, there is another model that I think would be perfect for what you are looking for." He would have built trust and perhaps landed a client. Instead he was selling, thinking about himself and possible commissions. Learn about your clients first and find the best fit for them. There is an old saying. "To a craftsman that only has a hammer, everything looks like a nail." Start looking at the process from THE CUSTOMERS perspective. Find ways to serve them and watch what happens to your sales.

February was a remarkable month for new light vehicle sales in the Canadian market. Ontario led the way with an estimated 35.3% increase in sales compared to February 2023, adding close to fifteen thousand units to the overall volume. Newfoundland, Quebec, Nova Scotia, PEI, and New Brunswick all also noted February sales increases in excess of twenty percent. British Columbia fell somewhat behind the overall market with a still considerable 17.1% sales increase. It was the Prairie region that differed significantly compared to the rest of Canada with Manitoba noting a 12.2% sales increase, Saskatchewan noting an 8.6% increase, and Alberta rising “just” 5.9%. Andrew King, Managing Parter at DAC commented that “Despite some comparatively lagging performances in the Prairie provinces, February was still an exceptional month for the auto market, especially so in Ontario and Quebec where sales were well ahead of February 2019.” Overall new light vehicle sales among reporting manufacturers came in at an estimated 129 thousand units for February 2024, rising 24.4% above February 2023. DAC offers a detailed market forecast by segment, region, and ICE/ZEV for the Canadian market. For more information and pricing contact Daniel Azarov at daniel@desrosiers.ca.

Canadian Provincial Auto Sales July 2023 While the previous month showed a somewhat balanced new light vehicle sales split between the provinces, July brought with it some notable disparities. On one end, British Columbia and Manitoba showed estimated sales increases at 14.3% and 13.7% respectively with Ontario not far off at 10.4%. However, several provinces also showed notable decreases with Newfoundland down 14.1% and Saskatchewan also down an estimated 6.0%. Overall, six provinces grew while four saw declines. Year-to-date, sales performances remained more evenly distributed with nearly all provinces showing single digit growth. “The road to recovery for the new light vehicle sales market is proving to be a long and gradual one” commented Andrew King, Managing Partner at DAC. He continued, “Nonetheless, July marks the ninth month of consecutive year-over-year growth despite the challenges the market continues to face.” Total new light vehicle sales among reporting manufacturers came in at an estimated 140,942 units for July, up 8.0% from July 2023. Growth settled at 7.7% for the year thus far.

My last job before freight was selling cars. I did this for 25 years. I was damn good at it, making mid-six figures annually. Many think car salesmen are shady. We, along with politicians and lawyers, are at the bottom of the trust scale. But I did learn some GENIUS principles I still use today. My favorite was "the silent walkaround,” aka “devaluing the trade.” This is what I was trained to do when someone brought in their trade-in: Slowly walk around the vehicle, pausing every so often. Never say a word. Quietly touch the blemishes and imperfections on the car. Run your finger along the scratches. Make sure the owner notices this, but NEVER SAY A WORD! The most you could say was, "Hmm..." With a concerned look on your face. As you do this, the owner silently devalues their trade-in their head without you ever offending them. When you say a price, it's already worth $2-3K less, and they can't even be mad. This works in all kinds of sales situations, and I often use it in the freight game when negotiating with clients and carriers. You're welcome.