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Scotiabank

May 13, 2026

Global Auto Report

Sector ReportMacro Economic IndicatorsOtherConsumer Discretionary

April auto sales showed steady performance globally despite headwinds, with Canada seeing a significant monthly increase to 1.9mn SAAR while US sales trended sideways at 15.9mn SAAR.

Key Takeaways

  • 1.Canadian auto sales rose 3% m/m in April to 1.9 mn units (SAAR), the highest rate since July 2025.
  • 2.US auto sales fell 1.6% m/m in April to 15.9 mn (SAAR) units, continuing a sideways trend established in late 2024.
  • 3.Global auto sales recovered in March (+4.6% m/m) across most regions, but the outlook for 2026 remains slightly negative (-0.6%) due to oil price volatility.

Table of Contents

  • April Auto Sales: Steady Despite Ongoing Headwinds
  • CANADA: A TEMPORARY VERSUS MORE ENDURING REBOUND
  • UNITED STATES: SALES ARE TRENDING SIDEWAYS AMID MIXED BACKDROP
  • GLOBAL AUTO SALES: BROAD IMPROVEMENTS AT THE END OF A SOFT Q1
  • Quarterly Outlook for North American Auto Sector

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Authors

John Fanjoy

Themes

Oil Price VolatilityMonetary Policy DivergenceEV Adoption and Subsidies

Regions

North AmericaEuropeAsia PacificCanadaUnited StatesChina