The Nissan Micra has officially lost its title as “Canada’s Least Expensive New Car”. Now, the cheapest new car is now the Hyundai Accent.
On the back of a record year for auto sales, the Honda Civic hung on to its Canadian sales crown for the 17th straight year.
Not long ago, Canada was, according to ex-GM CEO Dan Akerson, the most expensive place in the world to build a car. A strong Canadian dollar meant that the cars and crossovers built at GM’s plants in Oshawa and Ingersoll, Ontario, weren’t as profitable as those built in the US or Mexico, where labor costs were significantly lower.
But even a newly weakened Canadian dollar isn’t going to save Oshawa.
The margins were slim: only 259 units separated Chrysler Group’s five brands from the Ford Motor Company; only 301 stood between the Chrysler Group and General Motors. But these are celebratory moments for an automaker which owns 15.6% of the Canadian market. Chrysler Group’s market share in its “home” U.S. market stands at 12.6% through the first ten months of 2014. (Read More…)
At least, that was the case in October 2014, a month in which sales of the 200 jumped 120% to 1800 units. Even with the near-disappearance of the Dodge Avenger, the fraternal twin of the new 200’s predecessor, Chrysler Canada midsize car sales grew 64% last month.
Odd as this may sound for U.S. observers, it’s not completely out of the blue in Canada. Nor did we arrive at this point without an explanation. (Read More…)
Today’s Chart comes from J.D. Power, showing the growth of long term loans in the Canadian car market. While 96 month loans are just starting to hit American consumers, the 8 year loan terms have been present in the Great White North for some time. A friend was recently looking at a modestly equipped Big Three Pickup, which would be used for work. The truck, with an MSRP of $35,000 CAD (plus 13 percent sales tax), was offered at 96 months for 3.99%. That would have added up to $6,000 in interest payments over the loan term.
When Daimler begins production of its next-gen Sprinter, quite a few of the vans will be leaving an assembly line somewhere in North America.
September 2014 was marked by a collective 13% sales improvement from the overall industry, a gain of nearly 19,000 units compared with September 2013. September also marked Ford Motor Company’s return to the top of the overall sales leaderboard in Canada. Chrysler Group’s five brands haven’t actually led the monthly results since March, but their lead was strong enough to support year-to-date number one status through the end of August.
Both Ford/Lincoln and General Motors outsold the Chrysler Group in September, however, despite a combined 20% year-over-year improvement from Chrysler, Dodge, Jeep, Ram, and Fiat. (Read More…)