Scotiabank study predicts global growth
TORONTO, ON–The cyclical recovery in global auto sales remains intact, with purchases advancing in every region, except Europe, over the past year, according to the latest Scotiabank Global Auto Report.
“Purchases in Canada are expected to edge up to a record 1.76 million units in 2014, with volumes boosted by an improving labour market and the best vehicle affordability in more than three decades,” said Carlos Gomes, Scotiabank’s senior economist and auto industry specialist.
“Volumes in Western Europe began to stabilize in the second half of 2013 and are forecast to increase next year for the first time since 2009, helping to lift global car sales to record highs.”
Highlights in the report include: