Population growth, strong purchasing power and elevated consumer confidence are clearly evident in the latest numbers on new vehicle sales in Saskatchewan.
The August figures on purchases of new vehicles in the province show 5,566 new units left dealer lots in the month, the highest number ever and 10 per cent higher than either June or July.
Given that Saskatchewan’s population has been growing steadily, it probably should not be a surprise that vehicle purchases are rising, but the key nuance here is that these are new vehicles, not previously owned. Consumers have choices but opted for new rather than used in significantly greater numbers.
The value of those purchases topped $357 million, also a new high, reflecting the purchasing power of Saskatchewan consumers. It further underscores their willingness to make big ticket acquisitions, a powerful signal that consumer confidence is strong despite issues such as global trade wars and tariff battles.
One other interesting tidbit coming out of the report: we’re embracing electric vehicles a bit more. 45 were purchased in August – double what we’d seen in most months this year.
— For more than 50 years, Paul Martin has specialized in coverage of the business and political scenes. His career has spanned radio, television and print and electronic media.
