Auto Sales Expected to Decline: Scotiabank Report
CBJ — According to a report by Scotiabank, sales of cars and light trucks are expected to dip this year from last year’s all-time high, mostly because of weaker economic conditions in Ontario. Chasing a record year is also never easy. The decline is expected to be a relatively modest one, at about 40,000 nationwide.
The bank’s automotive outlook projected that 2018 could end a five-year string of successive records that included 2.04 million vehicles sold in 2017. A good portion of the sales were in Ontario and also the Prairie provinces.
It’s believed there could be a bit of a lag in Ontario — which has been the major driver behind recent growth.