Canadian auto sales fell 2.6% month-over-month to 1.69 mn units at a seasonally adjusted annualized rate (SAAR) in January based on data from Omdia (chart 1). In non-seasonally adjusted terms auto sales were 108 k, down 9.4% year-over-year. When comparing to the same month, auto sales posted the slowest start to the year since 2023. In seasonally adjusted terms, the selling rate softened through the second half of 2025 in what was likely a balancing out from demand pulled forward earlier in the year by consumers that were looking to front-run any distortions from the Spring tariff announcements. We will be keeping an ... (full story)