Canada New Motor Vehicle Sales

Info

History

Chart

Impact:

Low

Source: Statistics Canada

Next Release:

Date:

Period: May

What Does It Measure?

The Canada New Motor Vehicle Sales report measures the total sales of new motor vehicles in Canada, reflecting consumer demand and overall economic activity. It focuses on the number of new motor vehicles sold, including passenger cars and light trucks, providing insights into production trends, consumer confidence, and the health of the automotive sector.

Frequency

This report is released monthly, typically around the end of each month and can include preliminary estimates that may be revised in subsequent reports.

Why Do Traders Care?

Traders pay close attention to new motor vehicle sales as it serves as an indicator of consumer spending and economic health, influencing both the Canadian dollar (CAD) and the stock market, particularly within the automotive and retail sectors. Higher-than-expected sales figures indicate strong consumer demand which can lead to positive market sentiment, while lower figures may prompt concerns about economic slowdown and consumer confidence.

What Is It Derived From?

The report is derived from data collected from dealerships across Canada, including surveys that track the number of new vehicle registrations and sales. By aggregating these figures, it provides a comprehensive overview of trends in the motor vehicle market.

Description

Preliminary reports are based on initial estimates of sales, which are subject to revision in future releases, providing more accurate and finalized data that investors may react to. The data is typically reported on a month-over-month (MoM) basis to capture immediate changes in consumer behavior and offer insights into short-term trends.

Additional Notes

New motor vehicle sales are typically considered a leading economic indicator, as strong sales often correlate with higher consumer confidence and an expanding economy. This metric not only impacts the automotive industry but also serves as a bellwether for other sectors, reflecting broader trends in consumer spending and manufacturing.

Bullish or Bearish for Currency and Stocks

Higher than expected: Bullish for CAD, Bullish for Stocks.

Legend

High Potential Impact
This event has a strong potential to move markets significantly. If the 'Actual' value differs enough from the forecast or if the 'Previous' value is significantly revised, it signals new information that markets may rapidly adjust to.

Medium Potential Impact
This event may cause moderate market movement, especially if the 'Actual' deviates from the forecast or there's a notable revision to the 'Previous' value.

Low Potential Impact
This event is unlikely to affect market pricing unless there's an unexpected surprise or a major revision to prior data.

Surprise - Currency May Strengthen
Actual deviated from Forecast on a medium or high impact event and historically could strengthen the currency.

Surprise - Currency May Weaken
Actual deviated from Forcast on a medium or high impact event and historically could weaken the currency.

Big Surprise - Currency More Likely To Strengthen
'Actual' deviated from 'Forecast' more than 75% of historical deviations on a medium or high impact event and may likely strengthen the currency.

Big Surprise - Currency More Likely To Weaken
'Actual' deviated from 'Forecast' more than 75% of historical deviations on a medium or high impact event and may likely weaken the currency

Green Number	Better than forecast for the currency (or previous revise better)
Red Number	Worse than forecast for the currency (or previous revise better)
Hawkish	Supports higher interest rates to fight inflation, strengthening the currency but weighing on stocks.
Dovish	Favors lower rates to boost growth, weakening the currency but lifting stocks.

Date	Time	Actual	Forecast	Previous	Surprise