DUBLIN--June 19, 2012: Research and Markets (Research and Markets) has announced the addition of the "Canada Autos Report Q2 2012" report to their offering.
BMI's forecast for passenger car sales to end 2011 down by around 2%, largely owing to supply issues for Japanese brands, played out, as did our decision to raise our forecast for light CVs given the strength of the rebound during the year. We have maintained our higher 2012 outlook for LCVs for growth of 2.5%. This would take light trucks over the 900,000 units mark for the first time since our data records begin in 2001 and as such we do not expect growth to be higher than that achieved in 2011.
Another threat to growth of light truck sales in 2012 is our Commercial Banking team's view that lending to businesses in Canada will slow over the year, on the back of slowing economic growth and a drop in confidence related to the European debt crisis. If consumer lending maintains the downward trend followed for much of 2011, we also expect minimal growth in passenger car sales, although we do believe positive growth can be achieved from the low base in 2011.
The early months of 2012 have started strongly, however, as supplies return to normal, and some shift in the competitive landscape is evident. By February 2012, Chrysler had risen to lead the market with sales increasing 14.6% y-o-y to 32,875 cars and light trucks for the first two months of the year. It also increased its market share significantly from 14.5% at the end of 2011 to 16.1%. Chrysler's growth is attributed to 16 new or revamped models launched during the past year, with a primary focus on better exteriors, new interiors and improved fuel economy, according to Chrysler Canada CEO Dave Buckingham.
Companies Mentioned
- Ford Motor
- General Motors
- Chrysler
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