International Automakers Support Efforts to Ensure Access to Credit for New Vehicles as a Good First Step

    TORONTO, Jan. 27 /CNW/ - The President of the association representing
international automobile manufacturers in Canada praised the federal
government for its extensive measures in the budget that will enable Canadians
to continue to make new vehicle purchases.
    "The measures contained in today's budget will serve to assist in thawing
the credit market for automobile dealers and consumers," said David Adams,
President of the Association of International Automobile Manufacturers of
Canada (AIAMC). "While these measures are helpful in encouraging consumers to
re-enter the new vehicle marketplace, care needs to be taken that the
intervention does not confer a competitive advantage for some automakers and
finance companies over others," added Adams.
    "The creation of the Canadian Secured Credit Facility will help consumers
have access to credit to purchase the newest and cleanest vehicles," stated
Adams, "We hope that the Government will move swiftly and consult with
industry partners to work on the details of this facility to ensure that
consumers have access to this credit quickly and easily," added Adams.
    "This is undoubtedly a good first step made by the Government, but more
can be done," said Adams. "We hope the Government considers other ways to get
consumers into new, cleaner and safer vehicles by expanding the national
vehicle scrappage program to include meaningful incentives for consumers,"
Adams stated. "This would not only stimulate the automotive market, but would
also compliment the Government's green agenda."

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    The Association of International Automobile Manufacturers of Canada is
the national industry association representing the interests of thirteen
member companies engaged in the manufacture, importation, distribution and
servicing of light duty vehicles in Canada. AIAMC membership includes BMW
Canada Inc., Honda Canada Inc., Hyundai Auto Canada Corp., Kia Canada Inc.,
Mazda Canada Inc., Mercedes-Benz Canada Inc., Mitsubishi Motor Sales of
Canada, Inc., Nissan Canada Inc., Porsche Cars Canada Ltd., Subaru Canada,
Inc., Suzuki Canada Inc., Toyota Canada Inc., and Volkswagen Canada Inc.

For further information:

For further information: David C. Adams, President, Association of
International Automobile Manufacturers of Canada, Office: (416) 595-8251 x22,
Cell: (416) 333-2873,

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