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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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