Sales of new motor vehicles hit a new high-water mark in August in Saskatchewan.
After a couple years in the doldrums, through the COVID pandemic and subsequent supply chain interruptions, sellers of new vehicles are riding a wave of activity in this province.
The latest monthly report on the volume of new vehicles leaving dealer lots is for August.
It shows the keys for 4,800 units were put into the hands of buyers.
That is the highest level in more than five years.
The bulk of the sales – more than 90 per cent – were trucks, vans and SUVs.
Traditional passenger vehicles now account for about five per cent of the volume of new units.
The increased volume is a reflection of a few economic realities in this province.
First, our population is growing so it is logical that vehicle sales would rise with more potential drivers.
But this data looks only at new vehicle transactions, excluding sales of used or pre-owned units.
So, the growth in major purchases, such as a new vehicle, may also be a sign of rising consumer confidence.
