|By Marketwired .||
|February 11, 2013 11:09 AM EST||
TORONTO, ONTARIO -- (Marketwire) -- 02/11/13 -- The Canadian and U.S. auto industries are poised for solid growth this year - finishing strong with a predicted increase of 7 per cent to 17.5 million units sold - according to a new report by BMO Economics. With a notable pick-up in consumer spending, manufacturing sales are expected to accelerate.
The industry is coming off some momentum that was building last year. Canadian auto sales saw an increase of 5.5 per cent in 2012 compared to 2011. November sales were up 6.5 per cent in dollar terms over 2011, at a total of C$98.6 billion compared to C$92.6 billion the year prior.
In the U.S., auto sales experienced an increase of 15 per cent from 2011. Year-end sales at U.S. dealerships and auto part stores reached US$891 billion in 2012 - an increase of 7.7 per cent.
"The solid domestic market positions North America as an attractive location for auto manufacturers to invest in for 2013," said Alex Koustas, Economist, BMO Capital Markets. "The recent growth suggests automakers will continue to expand capacity and increased technological developments in North America - a trend we expect to continue in the coming years."
Investment Fuelling Innovation and Demand
Continued investments in the auto industry - both north and south of the border - are fueling manufacturing innovation and consumer demand. Notable announcements from government and manufacturers include a C$250 million commitment from Prime Minister Stephen Harper and a US$600 million investment in a General Motors plant located in Kansas City, Kansas.
Mr. Koustas noted that numerous technological innovations have been made over the past four years, most notably related to fuel economy. Thirty-seven per cent of vehicles achieved a fuel efficiency rating of 25 miles per gallon, more than doubling since 2008.
"Every segment, from compact to full-sized pickups, has seen improved fuel economy as manufacturers vie to meet new U.S. efficiency standards scheduled for 2016," noted Mr. Koustas.
Compact and midsize vehicles are now adopting amenities which in the past were reserved for their upper-market counterparts. This luxury segment, however, has been the fastest-growing and most profitable area for manufacturers over the past four years.
Affordability in the New Vehicle Sector
The National Automobile Dealerships Vehicle reports vehicle prices rose modestly in 2012, while new vehicle affordability is enjoying its best stretch in years.
According to BMO Economics:
-- Used car prices rose 12 per cent between 2008 and 2011, compared to 5.7 per cent over the same span for new cars -- Consumers are purchasing new vehicles due to improved car quality; used cars are maintaining their value for longer
The Big Three automakers (Ford, General Motors and Chrysler) have caused a stir with new supercar designs, but big changes in their core lineups will drive sales this year. Revamped pickup truck lineups will be a big boost for the profile of these automakers as the housing market heats up. Meantime, Toyota and Honda have redesigned some of their best-selling models to bolster their position in the mid-sized segment against hard charging competition from both Kia and Hyundai.
Robert Sadokierski, Head of Dealership Financing for BMO, expects auto manufacturers will continue to offer more incentives for consumers. "There is good news for prospective buyers as companies roll out redesigned models in the compact, mid-sized and luxury segments. In addition, the loonie's strength should support sales and benefit both dealers and consumers by lowering the costs of vehicles and enhancing purchasing power."
About BMO Financial Group
Established in 1817 as Bank of Montreal, BMO Financial Group is a highly diversified North American financial services organization. With total assets of $525 billion as at October 31, 2012, and more than 46,000 employees, BMO Financial Group provides a broad range of retail banking, wealth management and investment banking products and solutions.
So, you bought into the current machine learning craze and went on to collect millions/billions of records from this promising new data source. Now, what do you do with them? Too often, the abundance of data quickly turns into an abundance of problems. How do you extract that "magic essence" from your data without falling into the common pitfalls? In her session at @ThingsExpo, Natalia Ponomareva, Software Engineer at Google, will provide tips on how to be successful in large scale machine lear...
Apr. 30, 2016 07:45 AM EDT Reads: 893
SYS-CON Events announced today that Peak 10, Inc., a national IT infrastructure and cloud services provider, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Peak 10 provides reliable, tailored data center and network services, cloud and managed services. Its solutions are designed to scale and adapt to customers’ changing business needs, enabling them to lower costs, improve performance and focus inter...
Apr. 30, 2016 07:45 AM EDT Reads: 886
In his session at @ThingsExpo, Chris Klein, CEO and Co-founder of Rachio, will discuss next generation communities that are using IoT to create more sustainable, intelligent communities. One example is Sterling Ranch, a 10,000 home development that – with the help of Siemens – will integrate IoT technology into the community to provide residents with energy and water savings as well as intelligent security. Everything from stop lights to sprinkler systems to building infrastructures will run ef...
Apr. 30, 2016 07:30 AM EDT Reads: 553
SYS-CON Events announced today that DatacenterDynamics has been named “Media Sponsor” of SYS-CON's 18th International Cloud Expo, which will take place on June 7–9, 2016, at the Javits Center in New York City, NY. DatacenterDynamics is a brand of DCD Group, a global B2B media and publishing company that develops products to help senior professionals in the world's most ICT dependent organizations make risk-based infrastructure and capacity decisions.
Apr. 30, 2016 06:00 AM EDT Reads: 2,448
Between the mockups and specs produced by analysts, and resulting applications built by developers, there exists a gulf where projects fail, costs spiral, and applications disappoint. Methodologies like Agile attempt to address this with intensified communication, with partial success but many limitations. In his session at 18th Cloud Expo, Charles Kendrick, CTO & Chief Architect at Isomorphic Software, will present a revolutionary model enabled by new technologies. Learn how business and devel...
Apr. 30, 2016 04:00 AM EDT Reads: 1,718
You think you know what’s in your data. But do you? Most organizations are now aware of the business intelligence represented by their data. Data science stands to take this to a level you never thought of – literally. The techniques of data science, when used with the capabilities of Big Data technologies, can make connections you had not yet imagined, helping you discover new insights and ask new questions of your data. In his session at @ThingsExpo, Sarbjit Sarkaria, data science team lead ...
Apr. 29, 2016 09:15 PM EDT Reads: 354
The IoT has the potential to create a renaissance of manufacturing in the US and elsewhere. In his session at 18th Cloud Expo, Florent Solt, CTO and chief architect of Netvibes, will discuss how the expected exponential increase in the amount of data that will be processed, transported, stored, and accessed means there will be a huge demand for smart technologies to deliver it. Florent Solt is the CTO and chief architect of Netvibes. Prior to joining Netvibes in 2007, he co-founded Rift Technol...
Apr. 29, 2016 09:00 PM EDT Reads: 1,553
If there is anything we have learned by now, is that every business paves their own unique path for releasing software- every pipeline, implementation and practices are a bit different, and DevOps comes in all shapes and sizes. Software delivery practices are often comprised of set of several complementing (or even competing) methodologies – such as leveraging Agile, DevOps and even a mix of ITIL, to create the combination that’s most suitable for your organization and that maximize your busines...
Apr. 29, 2016 08:30 PM EDT Reads: 1,754
New Relic, Inc. has announced a set of new features across the New Relic Software Analytics Cloud that offer IT operations teams increased visibility, and the ability to diagnose and resolve performance problems quickly. The new features further IT operations teams’ ability to leverage data and analytics, as well as drive collaboration and a common, shared understanding between teams. Software teams are under pressure to resolve performance issues quickly and improve availability, as the comple...
Apr. 29, 2016 07:30 PM EDT Reads: 2,413
The proper isolation of resources is essential for multi-tenant environments. The traditional approach to isolate resources is, however, rather heavyweight. In his session at 18th Cloud Expo, Igor Drobiazko, co-founder of elastic.io, will draw upon their own experience with operating a Docker container-based infrastructure on a large scale and present a lightweight solution for resource isolation using microservices. He will also discuss the implementation of microservices in data and applicat...
Apr. 29, 2016 05:15 PM EDT Reads: 1,705
Join IBM June 8 at 18th Cloud Expo at the Javits Center in New York City, NY, and learn how to innovate like a startup and scale for the enterprise. You need to deliver quality applications faster and cheaper, attract and retain customers with an engaging experience across devices, and seamlessly integrate your enterprise systems. And you can't take 12 months to do it.
Apr. 29, 2016 04:30 PM EDT Reads: 1,792
See storage differently! Storage performance problems have only gotten worse and harder to solve as applications have become largely virtualized and moved to a cloud-based infrastructure. Storage performance in a virtualized environment is not just about IOPS, it is about how well that potential performance is guaranteed to individual VMs for these apps as the number of VMs keep going up real time. In his session at 18th Cloud Expo, Dhiraj Sehgal, in product and marketing at Tintri, will discu...
Apr. 29, 2016 04:30 PM EDT Reads: 656
Machine Learning helps make complex systems more efficient. By applying advanced Machine Learning techniques such as Cognitive Fingerprinting, wind project operators can utilize these tools to learn from collected data, detect regular patterns, and optimize their own operations. In his session at 18th Cloud Expo, Stuart Gillen, Director of Business Development at SparkCognition, will discuss how research has demonstrated the value of Machine Learning in delivering next generation analytics to im...
Apr. 29, 2016 03:45 PM EDT Reads: 1,644
This is not a small hotel event. It is also not a big vendor party where politicians and entertainers are more important than real content. This is Cloud Expo, the world's longest-running conference and exhibition focused on Cloud Computing and all that it entails. If you want serious presentations and valuable insight about Cloud Computing for three straight days, then register now for Cloud Expo.
Apr. 29, 2016 03:30 PM EDT Reads: 1,677