Auto Sales in Canada up???
November 5, 2008
Even as some U.S. auto manufacturers watched their October sales plummet by close to 50 per cent, demand for cars continues to rise in Canada, figures cited by analyst Dennis Desrosiers show.
In Canada, sales of cars and light trucks were up 1.5 per cent to 122,711 in October, compared to the same month in 2007, Desrosiers noted yesterday.
Automaker Toyota Motor ADR, which yesterday reported 26 per cent lower U.S. sales during October, saw sales rise 10 per cent year over year in Canada.
Apparently it is not all gloomy for businesses everywhere. With the election and the liquidity crisis, the U.S. has been the center of attention in recent months… but it is time that everyone’s focal point shifts.
How long do you think the public will give Obama? The reality is that he is going to be thrown into the fire and given a bottle of water to put out a major inferno. The financial crisis is not going away anytime soon, and once the public wakes up to the fact that the election has not changed much, the gloom will begin again.
We need to stop thinking of the economy as a local one and start looking outside to the international market. There may be better opportunities outside; in countries whose economies are showing more resilience. I’m not saying that it is time to give up on the local economy but that if you are looking for a place to park your money or parties to do business with… elsewhere might be better.
The Canadian economy is showing some resilience, so are some of the countries in Asia (not South Korea). It is just time people expand the scope of their thinking.
Thinking out Loud 