Close X
Friday, September 27, 2024
ADVT 
International

Auto Sales On Pace For Record, Driven By Popularity Of Light Trucks

Darpan News Desk The Canadian Press, 04 Jul, 2016 01:13 PM
  • Auto Sales On Pace For Record, Driven By Popularity Of Light Trucks
TORONTO — At least once a week, 76-year-old Ken Dacko makes the 200-kilometre round trip from his home in Alma, Ont., to the factory in Brampton, Ont., where he works.
 
Earlier this year, Dacko purchased a 2016 Jeep Wrangler. He says driving a brand-new vehicle that's reliable and guaranteed to start gives him peace of mind.
 
"Four-wheel drive is important for the winter time because I leave for work around three-thirty, four o'clock in the morning, and sometimes the roads this far north are not plowed," he says.
 
Dacko is one of thousands of Canadians snapping up new vehicles in droves, despite concerns about the economy and mounting consumer debt.
 
DesRosiers Automotive Consultants is expected to release figures later Monday showing how auto sales have fared for the first six months of the year.
 
The market research firm said last month that May sales dipped slightly from a year ago, but on a year-to-date basis they were still up 5.6 per cent, putting Canada on track for another record-breaking year.
 
Experts say cheap credit and economic strength in Ontario, British Columbia and to some extent Quebec are helping drive sales.
 
"Interest rates are incredibly low, and as we all know, vehicles are one of the big purchases in people's lives," says Charlotte Yates, an automotive industry expert and vice-president academic at the University of Guelph.
 
In recent years, consumers have been gravitating away from passenger cars and towards light trucks, a category that includes pickups, SUVs, minivans and crossovers. So far this year, that trend has continued.
 
Automotive analyst Dennis DesRosiers says crossovers have become especially popular in recent years, displacing the minivan as the family vehicle of choice.
 
"They fit everything, so the boomer has a vehicle that they can load up with their sports equipment and head out to the beach, and grandma and grandpa that are babysitting have a vehicle that they can put the kids in," DesRosiers says.
 
Their height also makes them convenient for people who may have mobility issues.
 
"They're much easier to get into and out of as opposed to a small sedan," says Scotiabank economist Carlos Gomes.
 
Yates says the relationship that Canadians have to the outdoors is another reason why sales of light trucks have been on fire.
 
"I do think there is a kind of iconic culture around the SUV, the crossover, the truck," says Yates. 
 
"We live a paradoxical existence. More and more of us live in cities, but we still have the myth that we need the four-wheel drive because we're going to the country. ... It's about expressing a kind of lifestyle choice, and I think that it's been very, very powerful."

MORE International ARTICLES

Indian Student In UAE Gets Perfect SAT Score

Indian Student In UAE Gets Perfect SAT Score
A 15-year-old Indian student here has scored a perfect 2400/2400 in the coveted Scholastic Aptitude Test exams held on November 7, a media report said on Monday.

Indian Student In UAE Gets Perfect SAT Score

Black Friday Brings Fights Across US, Videos Go Viral

Black Friday Brings Fights Across US, Videos Go Viral
Black Friday shoppers witnessed a mall brawl as a group of men began to punch each other at a food court on Thanksgiving.

Black Friday Brings Fights Across US, Videos Go Viral

Canada Opens Refugee Processing Centre In Jordan, Aims To See 500 People A Day

Canada Opens Refugee Processing Centre In Jordan, Aims To See 500 People A Day
A trickle of Syrian refugees seeking to leave Jordan flowed into Canada's processing centre in Amman on Sunday, the first day of operations at what will eventually become the hub of much of the Syrian refugee resettlement program.

Canada Opens Refugee Processing Centre In Jordan, Aims To See 500 People A Day

Donald Trump Is Playing The Media 'like A Fiddle' With Attention-grabbing Shtick: Jeb Bush

Donald Trump Is Playing The Media 'like A Fiddle' With Attention-grabbing Shtick: Jeb Bush
The one-time-favourite-now-longshot voiced frustration over all the news-media attention still being hoovered up by Donald Trump, with the primaries fast approaching.

Donald Trump Is Playing The Media 'like A Fiddle' With Attention-grabbing Shtick: Jeb Bush

Indian Woman Footballer Aditi Chauhan, Facing Deportation In Britain

Indian Woman Footballer Aditi Chauhan, Facing Deportation In Britain
Indian woman footballer Aditi Chauhan, who plays for English side West Ham United Ladies as a goalkeeper, is facing deportation as she cannot renew her visa due to rules and regulations of the Football Association

Indian Woman Footballer Aditi Chauhan, Facing Deportation In Britain

Belgian University Honours B.R.Ambedkar

Belgian University Honours B.R.Ambedkar
The event took place on Friday in Aula Pieter de Somer, the largest lecture hall of the university and was attended by more than 300 students and faculty of KUL. 

Belgian University Honours B.R.Ambedkar