TORONTO -
The seasonally adjusted annual rate of 2.1 million units for the unseasonably warm month was the highest since January 2018, said DesRosiers. The pandemic had created supply issues both through plant shutdowns and a surge in demand for electronics that led the auto industry to have a shortfall of semiconductors. The disruptions led to a shortage of supply and a surge in pricing as automakers focused on their priciest and most profitable models.A Scotiabank report last month estimated that North American production should hit 16 million units this year, roughly in line with the 10-year pre-pandemic average.
A Chevrolet vehicle logo is pictured on a car at an automotive dealership in Ottawa on Friday, Aug. 11, 2023. THE CANADIAN PRESS/Sean Kilpatrick
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Car Car Latest News, Car Car Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Fuel prices drop in some Canadian cities, rise in othersThe average cost per litre of regular fuel fell in the Greater Toronto Area, as well as Guelph, Ont., Sudbury, Ont., and North Bay, Ont. The largest decline in the country was in Gatineau, Que., where prices fell by 7.6 cents per litre. It was a different story in Victoria, B.C. where prices climbed 11.6 cents per litre between Feb. 15 and Feb. 22 to $1.769 per litre. According to data firm Kalibrate, the nationwide average price fell 1.6 cents to $1.536. Statistics Canada says lower year-over-year prices for gasoline pushed Canada’s annual rate of inflation down "Year over year, gasoline prices fell 4.0 per cent in January following a 1.4 per cent increase in December, largely due to a base-year effect,". "In January 2023, prices at the pump increased amid refinery closures in the southwestern United States following Winter Storm Elliott." Meanwhile, new data suggest Canadian auto sales are recovering from the pandemic-driven slump. According to DesRosiers Automotive Consultants, all Canadian provinces saw significant growth in new light vehicle sales in January
Source: YahooFinanceCA - 🏆 47. / 63 Read more »