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Vehicle sales in Canada are on pace to break last year’s annual record of 1.95 million, after posting a 6.9 per cent monthly increase in August, as sales continue to rise around the world despite concerns that demand has peaked.

According to a report Tuesday by the Global Automakers of Canada (GAC), which represents 15 industry manufacturers, more than 1.4 million new vehicles have been sold this year, 5.3 per cent more than last year’s record-breaking pace. Demand for light trucks and SUVs continued to bolster sales, with year-to-date sales increasing by 10 per cent and 5 per cent respectively, offsetting declining passenger car sales, which fell 0.5 per cent on a year-to-date basis.

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August sales came in at 183,945 units, Global Automakers said.

“Unless we hit some unexpected economic turbulence, it seems reasonable that Canada will achieve another new sales record in 2017,” GAC president David Adams said in a statement.