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Auto production to hit levels ‘not seen in years’ says Scotiabank report

Worldwide vehicle sales continued to climb, especially in North America where a scotiabank report vehicle production is forecast to hit levels not seen in years

Tech Triangle‘s insight:

The increase in sales was due to strong demand in China, western Europe and South America, as those economies saw signs of stabilization in their job markets and a surge in consumer confidence. 

Car and truck sales in Canada also jumped, as October produced a fourth consecutive month of record sales, with a stronger than expected annual sales rate of 1.84 million units, up from 1.73 million in September.

As a result, the bank has revised its full-year forecast for Canada to 1.735 million from 1.72 million. It also bumped up its forecast for 2014 to 1.745 million units.

See on www.canadianmanufacturing.com


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