CANADIAN AUTO DEALERS HOPE PENT-UP COVID-19 ERA DEMAND WILL BOOST SALES IN RECESSIONAL 2023
January 22nd, 2023
Canadian automakers and dealers are hoping that unsatisfied demand for new autos that grew during the Covid-19 pandemic will be released in 2023 and enable sales to rise during a year when most economists predict Canada will tip into a mild recession.
That, predicts Canadian bank RBC, could span two quarters – the technical definition of a recession – with lowering inflation sparking a late year recovery (1), enabling the Organization for Economic Cooperation and Development (OECD) to project 1% overall growth in Canada in 2023. (2) That said, the Canadian ...
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