Record number of Canadians shopping for cars across border
New vehicle sales in the U.S. continue to drop, due to surging fuel costs and a slumping economy. (David Zalubowski/Associated Press)
A record 151,169 vehicles were imported into Canada from the U.S. in the first half of 2008 — twice the number imported during the same time period last year, according to industry figures released Friday.
Consumers seeking prices reflecting the strength of the loonie largely powered the increase, according to the North American Automobile Trade Association — an industry association of brokers who import and export vehicles.
"Consumer awareness is certainly a major reason for the increase in import volume," said Brian Osler, president of the North American Automobile Trade Association, in a statement.
"Canadians are tuned in to the price differences and know that they can get a great deal by buying an American import. The numbers show people are buying."
NAATA estimates import volumes from the U.S. increased more than 55 per cent in both 2006 and 2007.
New vehicle sales in the U.S. continue to drop, owing to surging fuel costs and a slumping economy. As demand for larger trucks and SUVs wanes, automakers have scaled back production and are turning their attention to smaller, fuel-efficient vehicles.
Toyota Motor Co. reported a 21.4 per cent decline in June in the U.S. while Ford sales fell 27.9 per cent.
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