2012 Canadian auto sales could challenge all-time high: BMO Economics
Total sales for year could top record 1.7-million units sold in 2002
Toronto—Total annual auto sales for 2012 will challenge the all-time high set a decade ago after close to the best six-month stretch on record, according to BMO Economics.
With Canadian sales setting a June record and the first half of 2012 nearing the best six-month stretch in the country’s history, BMO predicts sales in 2012 could top a record 1.7-million units sold in 2002.
June saw a year-over-year increase of 2.8 per cent in Canadian auto and truck sales, according to BMO, boosting gains to 7.1 per cent year-over-year for the first half of 2012.
Robert Sadokierski, head of dealership financing for BMO, expects auto manufacturers will be offering more incentives for consumers throughout the next half of the year.
The prediction comes after a number of automakers announced record sales numbers for the month of June.