Canadian Auto Sector Recovers; Some Positive News Ahead in 2012-BMO

(PressMethod) - The Canadian auto sector has recovered and will provide some good news in 2012 for prospective buyers as manufacturers introduce redesigned models at competitive prices, according to BMO Economics.
"There will be a noticeable push as auto makers vie for increased market share," said Doug Porter, Deputy Chief Economist, BMO Capital Markets. He forecasts the Canadian dollar will hover around parity against the US greenback, while Canadian auto sales will dip slightly this year to 1.56 million units from 1.58 million in 2011.
Mr. Porter noted that Canadian auto sales for 2011 were up 1.8 per cent, with December's year-over-year rise at 2.6 per cent. "Canadian sales have seen much less drama in recent years compared to the volatility seen in the United States. Sales never fell as far, and were much quicker to return to normal."

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