Canada is scheduled to post the largest increase in vehicle output across North America in early 2011, as production ramps up following the late-2010 retooling at a major car plant in Brampton, Ontario. The first-quarter jump in Canadian assemblies will be the largest since mid-2009, when the global economic recovery was in its infancy. [Click on Pic to learn more]
Sales in Manitoba are expected to advance to 46,000 units in 2011, matching the 2008 annual peak, and up from 44,000 last year. The province has the most stable auto market in Canada, with volumes posting an annual peak-to-trough decline of only seven per cent during the latest downturn – significantly outperforming the 12 per cent drop in the rest of Canada. The stability in the auto market reflects Manitoba’s diversified economy, which enabled the province to avoid a contraction during the latest global economic downturn. [Click on Pic to learn more]
“Vehicle exports remain almost exclusively destined to a U.S. market that has limited upside potential in a period of protracted household and fiscal consolidation, limiting Canada’s growth opportunitiess,” said Carlos Gomes, Senior Economist, Scotia Economics. In fact, Canada is the only major auto manufacturing nation that relies almost exclusively on one export market, and is not diversified and well positioned to benefit from rapid sales gains in emerging markets.” [Click on Pic to learn more]
“Contrary to expectations, enhanced incentives have led to higher, not lower, average vehicle transactions prices, as Canadians take advantage of enhanced incentives to buy larger and more expensive models,” said Carlos Gomes, Senior Economist, Scotia Economics. [Click on Pic to learn more]
McMaster and IBM (NYSE: IBM) have launched a research project to investigate how the automotive industry can connect a vehicle’s multiple microprocessors, which currently work in isolation, to create a “cognitive car” that can predict vehicle failures before they happen, redirect drivers to less congested routes and help reduce traffic accidents. [Click on Pic to learn more]
Proposed amendments to the Drivers and Vehicles Act would allow for the full disclosure of names and administrative actions taken by the registrar of motor vehicles, Attorney General Andrew Swan, minister responsible for Manitoba Public Insurance, announced. [Click on Pic to learn more]
In many cases, dealers in Canada have benefited from the issues amongst US dealers and report their profits are up from 2008. [Click on Pic to learn more]
