Automakers report higher January sales in Canada
By Allison Lampert
MONTREAL (Reuters) - Most automakers on Tuesday reported higher Canadian auto sales in January, even as forecasters expect demand for cars and light trucks to level off in Canada this year following a record-breaking 2015.
General Motors Co (GM.N: Quote) notched Canadian sales of 14,395 vehicles in January, up 24 percent compared with the same month a year earlier, despite two fewer selling days.
John Roth, vice president, sales, service and marketing for the company said in a statement: "2016 is off to a strong start for GM Canada."
Ford Motor Co (F.N: Quote) said its January sales increased 14 percent over a year ago, fueled by stronger demand for sport-utility vehicles and pickups.
Toyota Motor Corp (7203.T: Quote) reported sales of 12,045 vehicles, up 4.5 percent compared with January 2015.
The Canadian figures come as U.S. auto sales fared better than expected in January, as the industry continued to benefit from low gasoline prices, easy credit and moderate economic growth.
DesRosiers Automotive Consultants said that while Canada's numbers were "extremely positive" it was too soon to read too much into them, noting that there is typically "gaming" at the end of the year that can skew January sales.
"We remain optimistic for 2016 that sales will reach the levels achieved in 2015 but our conviction is the lowest in a number of years," it said in a note. Continued...