News has generally been pretty good in this sector for some time. However, Desrosiers Automotive Consultants released their April results indicating auto sales were "still quite respectable" but down 1.4 per cent year over year. Chrysler took the lead once again in Canada, with a sales increase of 3 per cent, while Ford and GM had drops of just over 5 per cent and just under 7 per cent respectively. No doubt sales are still well ahead of the figures of a couple of years ago.
It is always a good idea in this sector to look to the automotive parts companies to gauge the future and in that regard, Martinrea International Inc. came out with its first quarter results showing a marked improvement in revenue year over year of over 70 per cent. Their results, however, do show that the pace began to slow in the first quarter as new programs began to come on line.
The general feeling of the experts is that we will continue to see an improvement as long as the U.S. continues to see even modest job growth patterns.
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