2013 Canadian auto sales to be second best on record: Scotiabank

Led by strong demand in resource-rich Alberta, Canadian auto sales will rise to 1.69 million units this year, according to a new report by ScotiaBank.

The Scotiabank Global Auto Report, by senior economist and auto industry specialist Carlos Gomes, said vehicle sales in Alberta climbed to 239,000 units last year – the second-highest on record. According to Gomes, demand growth is also the strong in Saskatchewan and in Newfoundland & Labrador. All three set provincial records last year.

In contrast, Gomes expects volumes in the rest of Canada will remain six per cent below the 2002 peak – even with a moderate gain this year.

The report concludes that 2013 auto sales will fall short of a Canadian record set in 2002 but edge up from last year’s levels, which were six per cent above 2011.

The full report is available at this link.