Skip to main content

Canada’s auto sales fell for the eighth straight month in November, as a rise in interest rates dampened demand for new cars.

Total auto sales tumbled 9.4 per cent to 143,668 units according to a report by Global Automakers Canada (GAC).

Despite an increase in consumer confidence of over two points in November that has not translated into higher vehicle sales, Global Automakers Canada President David Adams said

Story continues below advertisement

The Bank of Canada raised interest rates in October, its fifth hike in 16 months, and signalled more rate hikes to come in 2019 as it looks to meet its inflation target.

General Motors Co, the country’s biggest car maker, reported an 18.3 per cent drop in sales.

Last week, GM announced the closure of its Oshawa plant, which came as a blow to workers in Canada.

The decision is part of a wider restructuring, affecting nearly 3,000 assembly line jobs in the Ontario city out of the automaker’s Canadian work force of 8,150.

Toyota Motor Corp reported a 10.4 per cent rise in monthly sales to 18,731 units, according to the data published by GAC.

Earlier in the day, top U.S. automakers including General Motors, Ford Motor Co and Fiat Chrysler reported better-than-expected sales driven by the holiday season deals.

Report an error
Tickers mentioned in this story
Unchecking box will stop auto data updates
Comments

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff. Non-subscribers can read and sort comments but will not be able to engage with them in any way. Click here to subscribe.

If you would like to write a letter to the editor, please forward it to letters@globeandmail.com. Readers can also interact with The Globe on Facebook and Twitter .

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff. Non-subscribers can read and sort comments but will not be able to engage with them in any way. Click here to subscribe.

If you would like to write a letter to the editor, please forward it to letters@globeandmail.com. Readers can also interact with The Globe on Facebook and Twitter .

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff.

We aim to create a safe and valuable space for discussion and debate. That means:

  • All comments will be reviewed by one or more moderators before being posted to the site. This should only take a few moments.
  • Treat others as you wish to be treated
  • Criticize ideas, not people
  • Stay on topic
  • Avoid the use of toxic and offensive language
  • Flag bad behaviour

Comments that violate our community guidelines will be removed. Commenters who repeatedly violate community guidelines may be suspended, causing them to temporarily lose their ability to engage with comments.

Read our community guidelines here

Discussion loading ...

Due to technical reasons, we have temporarily removed commenting from our articles. We hope to have this fixed soon. Thank you for your patience. If you are looking to give feedback on our new site, please send it along to feedback@globeandmail.com. If you want to write a letter to the editor, please forward to letters@globeandmail.com.
Cannabis pro newsletter