Stellar Auto Sales Increase in Canada Could Be Tied to Return of EV Incentives -- Market Talk

Dow Jones05-12

1758 ET [Dow Jones]--Seasonally adjusted auto sales in Canada rose 3% in April from March, marking the strongest month-over-month growth since last summer, according to Bank of Nova Scotia economist John Fanjoy. Scotiabank, citing data from Omdia, says light-vehicle sales in Canada have improved in recent months, with the 3-month moving average rising to 1.86 million in April, versus 1.76 million in January. Fanjoy reckons the recent momentum might be tied to the reintroduction earlier this year by PM Mark Carney of an electric-vehicle sales incentive program. Auto analysts say higher fuel costs due to the conflict in Iran has sparked an uptick in EV demand in Europe and parts of Asia. (Paul.Vieira@wsj.com, @paulvieira)

(END) Dow Jones Newswires

May 11, 2026 18:02 ET (22:02 GMT)

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