The price of new vehicles in Canada is starting to rise because of a lower loonie, one auto analyst has found.
Carlos Gomes, a senior economist and auto analyst at Scotiabank, says he’s keeping an eye on new-vehicle pricing.
“The automakers have done a great job in restraining price increases, but in Canada, in particular, that is starting to change because the of the fact the dollar has declined significantly, especially last year,” Gomes told Pat Kiernan on Bloomberg TV. “We’re starting to see price increases come through in the order of five to six per cent on a year over year basis. We have not seen that in quite a while.”
You can watch the entire interview, in which Gomes also address luxury vehicle sales, in the video below.