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Strategies & Market Trends : Strictly: Drilling II -- Ignore unavailable to you. Want to Upgrade?

To: Frank Pembleton who wrote (17372)	8/15/2002 8:44:48 AM
From: Frank Pembleton	Respond to of 36161

Vehicle sales dip 2 per cent in June Last Updated Wed, 14 Aug 2002 20:36:11 OTTAWA - Dealer incentives intended to clear out 2002 model-year vehicles were not enough to persuade consumers to buy as sales of cars and trucks in Canada fell in June. Statistics Canada reported Wednesday that vehicle sales were down two per cent that month, following a gain of 2.2 per cent in May. A total of 142,715 new cars and trucks were sold in June. "Despite June's lower sales, the number of new motor vehicles sold has stabilized at a very high level," StatsCan said, adding that at least 140,000 new vehicles have been sold each month since November, 2001. Consumers bought 77,147 new passenger cars in June, a drop of 1.6 per cent from May. "North American-built cars were entirely responsible for this decline," StatsCan said. After sales jumps in April and May, sales of new trucks in June fell 2.5 per cent to 65,569 vehicles. Carlos Gomes, an auto analyst with Scotiabank, called the June numbers a modest fall-off. "But what is important here is that they were still up quite significantly on a year-over-year basis," he told CBC Business News. "And what we have seen recently is that there was a significant rebound in July in part because the industry began extending their zero per cent financing to all, throughout all their models," he said. The auto industry directly or indirectly accounts for one in every seven jobs in Canada. cbc.ca