New car sales up 41% across P.E.I.

Prince Edward Island is leading the country when it comes to new car sales.

Statistics Canada compared monthly sales in March for 2015 and 2016 and numbers from one year to the next took quite a jump.

Dealerships across the province welcomed the increased sales. Those in the business say it comes down to affordability.

"I think that's what's driving sales, not just on Prince Edward Island, but really right across the country," said Peter MacDonald, president of MacDonald Auto Group.

Over the last year, new car sales on P.E.I. have increased by 41 per cent. That's compared to the national average of 8.5 per cent.

MacDonald says there are lots of reasons why people are choosing to buy a vehicle. Interest rates are lower and so are fuel prices.

"People are moving from their older vehicle into a newer vehicle and seeing savings," he said.

Looking for future savings

Some Island dealerships, like Centennial Nissan have seen new sales grow.

"I would say year to date, we're up 100 per cent," said sales consultant Troy Leard.

Leard said people seem to be more likely to look at the bigger picture when they buy, including looking at future maintenance costs.

"When you consider the cost of one repair bill on a used vehicle can be five or six hundred dollars out of pocket, that goes a long way on payments."

While each dealership has their theory of why this growth is happening, they can agree the trend is likely to continue.

"We're presently on three years of unprecedented growth in the car industry...I can't see it going away anytime soon, but we'll keep hoping that it lasts as long as it does," said MacDonald.

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