General Motors said Monday that its Canadian sales for December dropped 19.5 per cent from a year ago as the economy sputtered and many auto companies reported weaker sales.
The company said it sold 21,000 cars and trucks in December, down from 26,090 in the same month of 2007. Trucks were down by 22.4 per cent, while car sales dipped 14.6 per cent.
For all of last year, the company's car and truck sales were off 11 per cent. Truck sales dropped 15.7 per cent, while car sales slid by 5.8 per cent.
Auto-sector analyst Dennis DesRosiers said the Canadian drop in sales at the end of the year was bound to happen.
"Canada has finally seen the serious sales declines which have prevailed in the U.S. for some months now," he said in a commentary.
"Canada had defied the U.S. trend up until October, but with November sales down 10.3 per cent and now December down 21.3 per cent, one can safely say that Canada too is in an automotive recession."
It was a tough December for most of the auto companies. Honda and Toyota both set record for their full-year sales, but their December sales were off year over year by 41 per cent and 35 per cent, respectively.
DesRosiers said Ford's Canadian sales in December were down by 5.5 per cent from December 2007, while Chrysler's sales tumbled by almost 36 per cent.
There were some exceptions to the downward trend, as Volkswagen sales grew by 82.5 per cent for the month, with DesRosiers pointing to their new diesel products. He said Suzuki and Subaru were up 31.6 per cent and 16 per cent, respectively .
The figures were not good last month in the United States, with Ford Motor Co.'s domestic sales down 32 per cent. General Motors' sales dropped 31 per cent.
Honda and Toyota both posted December drops in sales of more than 35 per cent.
Share Tools
Top News Headlines
- Canadian Pacific strikers face back-to-work legislation
- Labour Minister Lisa Raitt is prepared to end the Canadian Pacific Railway strike if necessary, after both CP and the union rejected a proposal for voluntary arbitration by the government-appointed negotiator on Sunday. Raitt says she is "extremely disappointed." more »
- Syrian regime denies role in Houla massacre
- The UN Security Council condemned the Syrian regime at an emergency meeting Sunday, holding president Bashar al-Assad's military responsible for the massacre of more than 100 people, dozens of whom were children younger than 10 years old. more »
- Ryder Hesjedal wins prestigious Giro d'Italia
- Victoria native Ryder Hesjedal has become the first Canadian to win one of the cycling world's three Grand Tour events, wrapping up the 2012 Giro d'Italia with an excellent performance in the final stage in Milan. more »
- Neighbour may have helped find missing kids in Mexico
- Two Winnipeg children who had been missing for nearly four years were found in Mexico after a man raised concerns about his neighbour, according to a private investigator. more »
Latest Business Headlines
- Bankia asks Spain for €19B
- The board of directors of Spain's troubled bank, Bankia, has asked the Spanish government for €19 billion ($24.5 billion Cdn) in financial support. more »
- EI reforms aim to boost employment, Flaherty says
- Finance Minister Jim Flaherty defended his government's proposals to change employment insurance, saying the aim is to remove "disincentives to employment." more »
- Employment Insurance review boards to be scrapped
- The federal government is scrapping two review boards used by people appealing decisions made about their employment insurance. more »
- Ottawa moves to limit foreign investment reviews
- The federal government is raising to $1 billion the amount of foreign money that can go into a Canadian company before the investment is reviewed. The review has been used in the past to block foreign takeovers of MDA and Potash Corp. more »
Lang & O'Leary Exchange
Markets
| Index | Last Trade | Change |
|---|---|---|
| TSX COMPOSITE | 11576.47 | 0 |
| DOW | 12454.83 | 0 |
| NASDAQ | 2837.53 | 0 |
| SP 500 | 1317.82 | 0 |
| NYSE COMPOSITE | 7534.32 | 0 |
| AMEX | 2227.37 | 0 |
| TSX-VENTURE | 1309.27 | 0 |
The data on this site is informational only and may be delayed; it is not intended as trading or investment advice and you should not rely on it as such.
Business Features
- Seniors float above Montreal's Quartier Latin
- Accused in blast that killed Alberta mom handled her funds
- Remains found in bag on Cape Breton river ID'd
- Neighbour may have helped find missing kids in Mexico
- Quebec students and province to resume talks
- Lip-dub marriage proposal an internet hit
- Syrian regime denies role in Houla massacre
- B.C. NDP calls for unity in fighting coast guard closure
- Canadian Pacific strikers face back-to-work legislation

