Canadian auto industry posts big gains
- August 3, 2017
Canada's automotive industry continues to post solid gains, with several major automotive companies posting sales gains and one automotive parts manufacturer posting a 6.6 per cent sales increase in its second quarter over the 2016 quarter.
Mazda Canada, Toyota Canada, Honda, Nissan and General Motors all posted solid sales gains, contributing overall to a five per cent increase in July 2017 for new vehicle sales.
Sales at Linamar reached $1.77 billion in July, a 6.6 per cent increase over the second quarter of 2016.
"We have had another solid quarter at Linamar with strong results in both segments," stated Linamar CEO Linda Hasenfratz. "Powertrain/Driveline continues to perform at very strong margins despite soft core markets, evidence of our market share growth stepping in to drive results, and our Industrial segment continues to power along taking market share and driving well above industry growth levels. Most notable of course in the quarter is a sizeable e-axle program win for electric vehicles solidly establishing Linamar content potential in this key segment."
Mazak Canada reported a sales increase of 11.5 per cent in July over July 2016. Toyota Canada saw sales increase 5.3 per cent over 2016 with hybrid vehicle sales also continuing to climb to a record in July, up 11.7 per cent from 2016.
Honda also reported sales increases, specifically, its Honda Odyssey witnessed its best July on record with 1,794 sold, an incrase of 37 per cent over sales of the vehicle in 2016.
Nissan saw a record month in July with sales of its small cars growing over 2016. Its Micra model saw sales increase 17.8 per cent over 2016, while sales for the Versa model were up 19.8 per cent.