Auto parts: forecasting a record increase in revenue this year

The Conference Board says the auto parts sector in Canada should know a record increase in revenue this year, with even a remarkable production and increased profits.

And although 2013 does not look as strong, group reflection and study has established that provides for Ottawa will have a good year.

The Conference Board stressed Thursday that the automotive parts were falling 43 percent between 2007 and 2009 during the global recession. But with increased demand and a more stable economy, the North American auto sector has rebounded strongly throughout.

The Conference Board analyst Michael Burt indicates that sales of vehicles in North America are in the process of establishing their best performance in five years, some institutions pursuing their activities in six days to meet the demand.

In addition to an increase of 22.4 per cent of production, revenue is expected to grow 22.7 percent this year _ the gain of one year to another the most important to date _ and profits should jump 37 percent to $ 1.4 billion.

For 2013, the Conference Board sees a rise in production of almost ten percent, an increase in revenues of 11 percent and profit growth of 3.7 percent.