Canadian New Vehicle Market on Pace for Record Year
OTTAWA, June 26, 2012 /CNW/ -
|WHO:||Canadian Automobile Dealers Association (CADA) Chief Economist Michael Hatch|
|WHAT:||CADA Chief Economist is available for media interviews to discuss the record new vehicle demand the Canadian market has seen so far in 2012.|
|WHEN:||Wednesday June 26, 2012|
New car sales are on pace for a new record in Canada in 2012. With total
new vehicle sales up more than 8 per cent so far this year over 2011,
the market is on pace to eclipse 1.7 million new units sold for the
second time ever, and to post a record for new vehicle demand in
The biggest factor driving this record demand has been affordability: average new vehicle prices have never been lower and have been on a downward trend for the past two decades. This, combined with strong consumer confidence and a return of a full suite of finance products now available to consumers, is resulting in record-setting sales across the country.
If the domestic new car market has a second half of 2012 as strong as the first half, new sales records will be set this year.
CADA Chief Economist
For further information:
For more information or assistance in reaching interview subjects, please contact 1-800-465-3054 or 613-230-2079.