December Canadian auto sales sag 21 percent
TORONTO (Reuters) - Canadian auto sales tumbled 21 percent in December from a year earlier, industry figures showed on Monday, as the worsening global economy undercut consumer confidence and credit was harder to come by.
Canadians bought 94,423 vehicles last month compared with 119,894 in December 2007, according to figures from DesRosiers Automotive Consultants Inc.
"Canada had defied the U.S. trend up until October but with November sales down 10.3 percent and now December down 21.3 percent, one can safely say that Canada too is in an automotive recession," Dennis DesRosiers, president the company, said in a statement.
U.S. auto sales fell by more than 30 percent in December.
Sales for General Motors of Canada, the country's top car company, were down 19.5 percent at 21,000 vehicles.
GM said truck sales slid 22.4 percent to 12,733, while car sales dropped 14.6 percent to 8,267 units.
Overall sales at Chrysler Canada fell 35.7 percent to 12,294 units in the month. Car sales declined 28.8 percent, to 2,474 units, while truck sales dropped 37.3 percent to 9,820 units.
Ford Motor Co of Canada sales fell 5.8 percent to 14,290. Car sales fell 6.9 percent to 3,221, while truck sales slid 5.4 percent to 11,069 units.
Toyota Canada Inc recorded a 35.4 percent drop in December from a year earlier to 9,752 vehicles. Continued...