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Winnipeg Free Press - PRINT EDITION
Canadian auto sales strong
TORONTO -- Canadian auto sales grew 4.7 per cent this July from a year earlier, fuelled by incentive programs and a strong surge at Japanese automakers whose production was crippled after last year's earthquake and tsunami.
Overall auto sales rose to 148,184 last month, compared to 141,472 in the year-earlier period, data from DesRosiers Automotive Consultants indicate.
In total, Canadian auto makers have sold 1,013,094 vehicles this year, up 6.7 per cent from the 949,244 they sold by this time a year ago.
Carlos Gomes, a senior economist at Scotiabank, says sales remained strong in July, with annualized sales rates softening only slightly after an exceptional June. "We are at very healthy levels," said Gomes.
"It highlights that the industry is doing well, but it is being supported by the generous incentive levels."
Those incentives -- such as zero per cent financing and employee discount programs offered by Ford -- helped buyers shrug off worries about the European financial crisis that weakened sales in April, said Gomes.
At the Detroit big three automakers -- GM, Ford and Chrylser -- sales were up a slight 0.4 per cent as they continued to lose market share to import nameplates, which saw a 9.1 per cent rise over last August. Foreign brands now corner the bigger share, 54.6 per cent, of the Canadian market.
-- The Canadian Press
Republished from the Winnipeg Free Press print edition August 2, 2012 $sourceSection0
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