Canadian wholesale sales rose +2.0% MoM (+2.1% volumes) in December, rebounding after prior decline.

• Automotive wholesale sales increased +9.3% MoM to $14.3B but were -0.2% YoY, indicating a production recovery after earlier semiconductor shortages while remaining near year-ago levels.

• Excluding autos, wholesale sales rose +0.6% MoM, showing broader but more modest gains across the sector.

• Miscellaneous wholesalers increased +6.8% MoM, with mineral, ore and precious metals surging +85.6% to a record $1.5B amid strong prices and demand.

• Food, beverage and tobacco sales fell -3.4% MoM to $15.7B but were +3.7% YoY, suggesting short-term weakness within an ongoing annual uptrend.

• Provincial sales rose in five provinces, led by Ontario +3.6% (autos +13.6%) and Quebec +3.7% (machinery +15.8%), while Alberta declined -1.6% due mainly to building materials -6.5%.

• Wholesale inventories rose +0.6% to $136.8B and the inventory-to-sales ratio declined to 1.59 (from 1.61), indicating inventories grew more slowly than sales.

• For 2025 overall, wholesale sales increased +2.9% YoY to $1.024T, with gains across all subsectors led by food, beverage and tobacco +6.1%.

Wholesale sales (excluding petroleum and oilseed/grain) fell -1.8% MoM in November to $84.4B, reflecting a sharp automotive-driven pullback.

• The -1.8% MoM decline was the second-largest drop in the past two years, and was driven primarily by a steep fall in the motor vehicle and motor vehicle parts and accessories subsector.

• Wholesale sales volumes declined -2.3% in November, indicating the pullback was larger in real terms than in nominal sales.

• Motor vehicle and motor vehicle parts and accessories sales fell -11.5% MoM to $12.9B, the lowest level since October 2022, with broad weakness across the subsector.

• Within automotive, sales fell in both the motor vehicle industry group (-14.6%) and used motor vehicle parts and accessories (-26.9%), while new motor vehicle parts and accessories rose +2.1% (about one-fifth of the subsector).

• Building material and supplies sales declined -3.8%, with all industry groups lower, led by electrical, plumbing, heating and air conditioning equipment and supplies (-5.0%).

• Food, beverage and tobacco sales rose +3.1% to a record $16.3B, reflecting both higher prices and higher volumes; sales were up +7.6% YoY.

• Wholesale sales fell in four provinces, led by Ontario (-3.9% to $42.5B), where automotive sales dropped -15.3% to $8.5B (largest decline since April 2020) and building materials declined -8.5% to $4.6B.

• Wholesale inventories rose +0.6% to $136.0B, with the inventory-to-sales ratio increasing to 1.61 (from 1.57), indicating inventories rose despite weaker sales.