More than 1.8 million cars and light trucks were sold in the NAFTA region last month, which meant significant sales increases for both Canada and the United States. Meanwhile, in Mexico two earthquakes contributed to the sharpest drop in auto sales over 2017.
In the U.S., thousands of car owners rushed to auto dealers to replace some of the 700,000 vehicles damaged or destroyed in two hurricane-hit parts of the country. That helped auto dealers sell 1.52 million new cars, SUVs and light trucks, an increase of 6.1% compared to September 2016, according to the tracking firm Autodata Corp. The seasonally adjusted annualized rate in September rose to 18.57 million units from 17.72 million units a year earlier, Autodata revealed.
In Canada, auto sales rose 7.7% in September, driven by strong demand for trucks, which made up for nearly 70% of total sales in the country.
DesRosiers Automotive Consultants says it's looking increasingly likely that Canadians will buy more than two million vehicles this year after another record-setting month.
The consulting firm says September sales hit about 186,837 vehicles, bringing the total number of units sold to 1.59 million so far this year, up 5.5% from last year, with every month hitting a new record except for April.
Last month, sales of cars and light trucks in the Mexican market fell 11.5% to 116,356 units, affected in great part by earthquakes of September 7 and 19, according to data the Mexican Auto Industry Association (AMIA) released today.
From January through September Mexican auto dealers sold 1,106,848 light vehicles, a 1.1% decrease compared to the first nine months of 2016, the AMIA revealed.