2003 Canadian Sales Down, Production Flat According to Forecaster
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| J.D. Power Chief Economist Bob Schnorbus. (Photo: J.D. Power & Associates) |
Canadian vehicle sales are forecast to drop off slightly during 2003 compared to last year's record levels. Production, however, should stay even while declining throughout North American on the whole, according to J.D. Power Chief Economist Bob Schnorbus.
Canada outperformed the U.S. in 2002 with a sales increase of 8%, compared to a 2% decline in the US market. That scenario won't b repeating itself if the J.D. Power and Associates forecast turns out to be accurate. As reported in the Kitchener-Waterloo Record newspaper, sales will sag down to 1.67 million units from last year's 1.7 million.
That said if external measures such as potentially rising interest rates, a longer than expected war in Iraq or sharp increase in the price of oil should shock the economy the results could be much worse.
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| Fifty percent of Nissan's 2003 lineup is made up of all-new or redesigned vehicles like this 2004 Titan full-size pickup, boding well for the automaker to gain significant market share in Canada. (Photo: Nissan Canada) |
Still one of the biggest threats to continued increase could come from the automakers themselves, some who are feeling the heat of their own incentive programs. If they choose to reduce rebates, pull back on 0 percent financing et al short term sales will definitely be affected, and not for the better.
Still one of the biggest threats to continued increase could come from the automakers themselves, some who are feeling the heat of their own incentive programs. If they choose to reduce rebates, pull back on 0 percent financing et al short term sales will definitely be affected, and not for the better.