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Scotia: Canadian car sales to a record year

Incentives automakers have pushed Canadian sales of light vehicles and put the country on track for a possible record sales for the year, according to a report from Scotiabank unveiled Thursday.

Canadian sales of passenger vehicles have been averaging a seasonally adjusted rate of 1.75 million units in April and May, well beyond the forecast for the year of the financial institution.

Therefore, Scotiabank increased its sales projection for passenger vehicles for 2013 was a record high of 1.72 million units compared to 1.69 million previously.

This assessment is made on the basis of maintaining existing incentives builders until the end of 2013, do you precise.

Scotiabank has however said Thursday that global auto sales had believed by 3.5 percent from one year to another in May, up down from the average rate of five per cent in the four previous months .

The lower earnings reflect a recent slowdown in Eastern Europe, particularly in Russia, even in India, in addition to persistent declines in countries using the euro.

The activity remains strong on the outside of these areas, particularly in Brazil and China.

Despite a weakening of the economic momentum of China, Scotiabank said still expect a ten percent increase in sales of vehicles in China this year, while the growth of employment and income in the cities do not show signs of withdrawal.

Scotia: Canadian car sales to a record year picture #1

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