Contrary to what you might think, Canadian auto sales are holding up quite well

From the CBC...

Canadian sales rise

"... But in Canada, total sales of light vehicles were up 1.5 per cent in October compared with the same month last year.
"The Statistics Canada price index for new vehicles indicated price deflation in the seven to nine per cent range, and when you lower prices, consumers take advantage of the deals and buy more. I suspect this largely explains positive auto sales for Canada," Dennis DesRosiers, president of Richmond Hill, Ont.-based DesRosiers Automotive Consultants, said in an e-mail.

"But I must say that I am absolutely completely surprised by the Canadian performance. Did Canadians not open their investment statements in October?"

Toyota Canada surpassed its 2007 record sales performance in October.

Sales of Toyota and Lexus cars and trucks hit 15,843 over the past month — up 9.4 per cent from October 2007 — for a year-to-date total of 201,614. That surpasses 2007's record-setting 201,326 vehicles sold, with two months still to go in the year.

Honda Canada reported a one per cent increase over last October in its combined Honda and Acura divisions. It reported October sales of 10,293 Hondas, up two per cent from last year, while its Acura division reported sales of 1,162 units, down seven per cent from last year.

Chrysler Canada saw a 1.5 per cent increase in sales, with 15,643 light vehicles sold in October compared with 15,411 sold during the same month last year.

Ford Canada's numbers were in negative territory, dropping to 15,123 from 16,863 for a decrease of 10.3 per cent...."