OTTAWA, Jan. 6, 2014 /CNW/ - The Canadian retail automotive market
posted a new record in 2013, with 1.74 million new cars sold in Canada
last year. This is only the second time the retail market has surpassed
1.7 million units in Canada, and breaks the old record set in 2002. The
2013 record represents four per cent growth over 2012 and is a new
sales record for Canada's new car dealers.
"This is great news for our dealer network, obviously, but also for the
economy as a whole and for Canadian consumers," said Michael Hatch,
Chief Economist of the Canadian Automobile Dealers Association (CADA).
"Consumers are responding to an optimistic and rebounding industry,
with high levels of product affordability and the best product choice
we've ever seen. New car prices have mostly defied regular inflationary
pressures in the past decade and we're seeing that manifested in record
levels of demand."
The industry has gone through many changes and challenges since the
recession of 2009 and the restructuring of much of the North American
auto industry that came in its wake.
"Our dealership network experienced some serious setbacks over the past
number of years," continued Hatch. "That we can stand today with a new
sales record for the Canadian market is a huge accomplishment. Record
levels of new car demand in the marketplace mean that consumers are
confident in the economy's performance and that's great news for car
dealers, their customers, and all Canadians.
"Overall the record was driven by historic levels of new vehicle
affordability and quality combined with solid consumer demand,"
The Canadian Automobile Dealers Association (CADA) is the national
association for franchised automobile dealerships that sell new cars
and trucks. Our 3,300 dealers represent a key sector of Canada's
economy. Through our dealers, we are represented in nearly every
community and those dealers collectively employ over 130,000 people
across the country.
SOURCE: CANADIAN AUTOMOBILE DEALERS ASSOCIATION (CADA)
For further information:
CADA Public Affairs
Telephone : 613-230-2079/1-800-465-3054