In February 2024, there were 1,969 new motor vehicles sold in Newfoundland and Labrador, an increase of 30.9% (or 465 units) compared to February 2023. The value of sales increased by 22.8% in February 2024 relative to February 2023.

New motor vehicle sales have been impacted by supply issues since mid-2021, however, the situation improved throughout 2023 and into 2024. Sales in February 2024 represented the highest number of sales for the month of February since 2008. On a year-to-date basis, the number of new motor vehicles sold increased by 22.7% compared to January to February 2023, while the value of sales increased by 19.4% compared to the same period in 2023.

At the national level, the number of new motor vehicle sales for Canada increased by 25.4% in February 2024 compared to February 2023, while the value of sales increased by 21.4%. On a year-to-date basis, the number of sales for Canada increased by 19.4% compared to January to February 2023, while the value of sales increased by 15.7%.

Statistical Reference: Statistics used in this analysis were current at the time of writing. For the latest in new motor vehicle sale statistics visit the Newfoundland & Labrador Statistics Agency site.