Canadian Automotive Industry Receives Higher-Then-Expected Forecast
Auto sales are suppose to be higher then last year in Canada which for a market that thought the auto industry was falling out on them it has regained some of it’s composure. The Canadian automakers will sell roughly 1.645 million cars and light trucks in Canada in 2008 which is higher then the projected forecasts as well as last years sales. The market is seeing a sudden push in the right direction and with a strong foreign automotive presence in Canada we need as much of the market share as possibly.One of the main reasons Canada is selling more vehicles is because they are lowering the prices of their vehicles by quite a bit. They still make their money though and sales are through the roof so I see it as a win-win type of situation for the automobile manufacturers and automobile drivers. The Canadian dollar has also helped sales of the Canadian vehicles as well as a strong current economy which is doing a lot better then our neighbors below us who are currently in a crisis right now.
Canadian automotive manufacturers hope to see the market continue up swinging like it has been and hope the bubble isn’t going to burst anytime soon. With summer around the corner though I don’t expect sales to dip quite yet but possibly in the winter they’ll be reconsidering the amount of cars to manufacture as sales will most likely decrease around that time of year.