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Canadian auto sales to reach record high this year: Scotiabank

TORONTO, Ont. — Auto-haulers and automotive parts carriers should benefit this year from record car sales in Canada and the highest-volume US sales since 2001.

A new report from Scotiabank, On the Road to Record Global Car Sales in 2015, paints an encouraging picture of the global automotive industry.

“Both Canada and Mexico will set sales records in 2015, while volumes in the United States will exceed 17 million units for the first time since 2001,” said Carlos Gomes, senior economist and auto industry specialist at Scotiabank. “Strengthening labour markets are driving the gains across the NAFTA region. Payrolls are advancing in excess of 5% year-over-year (y/y) in Mexico, growing at the fastest pace since the turn of the millennium in the United States and have gained momentum in Canada, especially in the industrial heartland of Central Canada and on the West Coast.”

Gomes, who will speak at this year’s Surface Transportation Summit Oct. 14, said while global car sales grew at a slower-than-expected 2% during the first half of 2015, they remain on target to reach a sixth consecutive annual record this year.

The full report can be found here.

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