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UPDATE 3-Light truck demand boosts mixed Canada auto sales in August

Published 2015-09-01, 05:44 p/m
© Reuters.  UPDATE 3-Light truck demand boosts mixed Canada auto sales in August
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(Adds DesRosiers comment, overall sales data, Toyota numbers)
TORONTO, Sept 1 (Reuters) - A healthy appetite for light
trucks pushed auto sales in Canada to a monthly record in
August, with Fiat Chrysler Automobiles (NYSE:FCAU) FCHA.MI nudging out
Ford Motor (NYSE:F) Co F.N as the top seller, according to data
released on Thursday.
Fiat Chrysler Canadian sales edged up 0.4 percent to take
the No.1 spot by 349 units, while Ford's sales fell 5 percent.
General Motors (NYSE:GM) Co's GM.N sales, meanwhile, jumped a healthy 12
percent.
Overall sales nudged 2.2 percent higher to 175,512 cars and
light trucks, making it the strongest August on record.
Year-to-date sales were up 2.3 percent at 1,285,959 vehicles.
The mixed performance came as new data showed the Canadian
economy shrank in the second quarter, putting the country in
recession as a plunge in oil prices cut investment. But growth
picked up in June, underscoring expectations the recession will
be short-lived.
"Despite warnings and indeed some recent news stating that
the Canadian economy may cool, the appetite for new light
vehicles continued to set records in August," DesRosiers
Automotive Consultants wrote in a note to clients.
Light truck sales were up 10 percent, accounting for 60.9
percent of the market in August, with passenger cars making up
the remaining 39.1 percent.
GM sold 24,653 cars and trucks in Canada, up from 22,111 a
year earlier, as truck sales jumped 14.6 percent, and car sales
rose 3.2 percent.
Ford's Canadian sales fell to 26,581 vehicles, down from
27,969 a year earlier, hurt by declines in both car and truck
sales.
Fiat Chrysler sold 26,928 cars and trucks in August, up from
26,825 a year earlier. Jeep sales rose 9.2 percent, while Dodge
brand truck sales were up 10.1 percent, but Fiat Chrysler's
total car sales dropped 19 percent to 2,036 vehicles.
U.S. auto sales were stronger than expected in August,
boosted by pickup truck and SUV sales. Analysts had expected
sales to decline.
Toyota Canada, a division of Toyota Motor Corp 7203.T ,
said sales were down 1.1 percent at 18,292 vehicles, with lower
Toyota and Scion sales outweighing record Lexus sales.
Honda Canada, part of Honda Motor Co Ltd 7267.T , reported
an 11 percent increase in sales, to 17,277 vehicles, helped in
part by its CR-V crossover utility vehicle.

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