When the COVID-19 coronavirus pandemic was officially declared last March, companies across most sectors in Canada buckled up for a bumpy ride ahead, filled mostly with uncertainty. While some industries have been spared financial hits due to being declared an essential service, the automotive sector was not one of them.
According to a recent report from DesRosiers Automotive Consultants, automotive sales in 2020 fell to their lowest level in more than a decade. Last year, approximately 1.54 million cars and trucks were sold in Canada, down just under 20 per cent from the previous year. In the spring, many were fearing even worse numbers since sales dropped 75 per cent in April alone.