2015 auto sales in Canada, Mexico estimated to top 2014 record

Friday January 16, 2015
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Jan. 16, 2015 - A Scotiabank report is forecasting auto sales in Canada and Mexico this year will top 2014’s record-setting pace.

Carlos Gomes, a Scotiabank analyst, is predicting Canadian auto sales will rise to 1.86 million vehicles in 2015, from 1.85 million in 2014, while sales in Mexico this year will total 1.17 million, up from 1.13 million.

He also notes that Americans are expected to buy roughly 17 million new vehicles in 2015, the highest level since 2001 — an increase from last year’s 16.4 million.

The report states strong economic growth, improving household finances and aging vehicles in need of replacing will be behind the sales boost in the U.S., which in turn will improve exports for Canadian and Mexican automakers.

— With files from The Canadian Press

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