Canadian Auto Sales Soaring. In a Way.
While Standard & Poor's are planning for a seven percent slide in auto sales for the U.S. of A, things north of the border are looking up. The CBC reports that the Canadian automotive market will nip at the heels of last year's totals (their second best year ever). The forecast comes courtesy of DesRosiers Automotive Consultants head honcho, Dennis DesRosiers. After seeing double-digit jumps throughout the first quarter, Dennis deduced an improved forecast was due. DesRosiers reckons the strong Loonie, decreased taxes (one percent G.S.T drop), and healthier Canuck economy will entice more Canadians to throw down for price-reduced whips this year. Don't figure on this news making up for the U.S. slide though. The improved forecast accounts for a mere 8k unit improvement (1.645m total).
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John B: same price out here in Kitchener - however, I've noticed that every day this week and last the price has dropped to $1.04 for a few hours in the afternoon (morning commute price is ~1.12)!
Are high gas prices the reason for pickup sales slumping or is it also the fact that the housing crisis in the US has nuked the construction trade. Contractors are one of the biggest users of pickups and they are hurting. Not only are there few new home starts but a lot of them are sitting on $millions in unsold houses. Pickup sales are further depressed by the fact that with people losing or barely hanging onto their homes there's no money for DIY renos so no need for a new truck.
Speaking of per liter gas prices... It finally had to happen one day. I'm driving along and see that the gas prices have shot up to 1.27, up from 1.12 earlier today. But, lo and behold, what's this? A lone Ultramar station is still holding out at 1.12. Zip! In I pull. I wait my turn, because, as one might expect, there is a lineup. (I don't ever recall a $0.15 jump in day like this; most I'd seen so far was $0.10.) In any case. Get to the pump, insert card.... card not read... insert card again. Okay, authorizing, authorizing... ...ZING! Price goes up to 1.27 on the pump as I'm standing there. I look up at the digital gas price billboard... 1.12... and zap! Up goes that one too. $1.27. So it finally did happen with the fast-changing, frequently-changing retail gas prices: I was the one at the pump just before it jumped up. I put in $5.00 and drove off, dejected.