|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.
With billions of sensors deployed worldwide, the amount of machine-generated data will soon exceed what our networks can handle. But consumers and businesses will expect seamless experiences and real-time responsiveness. What does this mean for IoT devices and the infrastructure that supports them? More of the data will need to be handled at - or closer to - the devices themselves.
May. 1, 2017 12:30 AM EDT Reads: 1,272
SYS-CON Events announced today that CollabNet, a global leader in enterprise software development, release automation and DevOps solutions, will be a Bronze Sponsor of SYS-CON's 20th International Cloud Expo®, taking place from June 6-8, 2017, at the Javits Center in New York City, NY. CollabNet offers a broad range of solutions with the mission of helping modern organizations deliver quality software at speed. The company’s latest innovation, the DevOps Lifecycle Manager (DLM), supports Value S...
May. 1, 2017 12:15 AM EDT Reads: 1,543
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm. In his Day 3 Keynote at 20th Cloud Expo, Chris Brown, a Solutions Marketing Manager at Nutanix, will explore t...
May. 1, 2017 12:00 AM EDT Reads: 1,286
Building a cross-cloud operational model can be a daunting task. Per-cloud silos are not the answer, but neither is a fully generic abstraction plane that strips out capabilities unique to a particular provider. In his session at 20th Cloud Expo, Chris Wolf, VP & Chief Technology Officer, Global Field & Industry at VMware, will discuss how successful organizations approach cloud operations and management, with insights into where operations should be centralized and when it’s best to decentraliz...
May. 1, 2017 12:00 AM EDT Reads: 1,198
Multiple data types are pouring into IoT deployments. Data is coming in small packages as well as enormous files and data streams of many sizes. Widespread use of mobile devices adds to the total. In this power panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists will look at the tools and environments that are being put to use in IoT deployments, as well as the team skills a modern enterprise IT shop needs to keep things running, get a handle on all this data, and deli...
Apr. 30, 2017 11:45 PM EDT Reads: 2,856
In his keynote at @ThingsExpo, Chris Matthieu, Director of IoT Engineering at Citrix and co-founder and CTO of Octoblu, focused on building an IoT platform and company. He provided a behind-the-scenes look at Octoblu’s platform, business, and pivots along the way (including the Citrix acquisition of Octoblu).
Apr. 30, 2017 11:00 PM EDT Reads: 1,929
The Internet of Things is clearly many things: data collection and analytics, wearables, Smart Grids and Smart Cities, the Industrial Internet, and more. Cool platforms like Arduino, Raspberry Pi, Intel's Galileo and Edison, and a diverse world of sensors are making the IoT a great toy box for developers in all these areas. In this Power Panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists discussed what things are the most important, which will have the most profound e...
Apr. 30, 2017 10:45 PM EDT Reads: 2,624
Automation is enabling enterprises to design, deploy, and manage more complex, hybrid cloud environments. Yet the people who manage these environments must be trained in and understanding these environments better than ever before. A new era of analytics and cognitive computing is adding intelligence, but also more complexity, to these cloud environments. How smart is your cloud? How smart should it be? In this power panel at 20th Cloud Expo, moderated by Conference Chair Roger Strukhoff, pane...
Apr. 30, 2017 10:30 PM EDT Reads: 2,643
Grape Up is a software company, specialized in cloud native application development and professional services related to Cloud Foundry PaaS. With five expert teams that operate in various sectors of the market across the USA and Europe, we work with a variety of customers from emerging startups to Fortune 1000 companies.
Apr. 30, 2017 10:00 PM EDT Reads: 2,682
SYS-CON Events announced today that Grape Up will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct. 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Grape Up is a software company specializing in cloud native application development and professional services related to Cloud Foundry PaaS. With five expert teams that operate in various sectors of the market across the U.S. and Europe, Grape Up works with a variety of customers from emergi...
Apr. 30, 2017 09:45 PM EDT Reads: 2,525
Financial Technology has become a topic of intense interest throughout the cloud developer and enterprise IT communities. Accordingly, attendees at the upcoming 20th Cloud Expo at the Javits Center in New York, June 6-8, 2017, will find fresh new content in a new track called FinTech.
Apr. 30, 2017 09:45 PM EDT Reads: 2,717
@ThingsExpo has been named the Most Influential ‘Smart Cities - IIoT' Account and @BigDataExpo has been named fourteenth by Right Relevance (RR), which provides curated information and intelligence on approximately 50,000 topics. In addition, Right Relevance provides an Insights offering that combines the above Topics and Influencers information with real time conversations to provide actionable intelligence with visualizations to enable decision making. The Insights service is applicable to eve...
Apr. 30, 2017 09:30 PM EDT Reads: 3,209
SYS-CON Events announced today that Interoute, owner-operator of one of Europe's largest networks and a global cloud services platform, has been named “Bronze Sponsor” of SYS-CON's 20th Cloud Expo, which will take place on June 6-8, 2017 at the Javits Center in New York, New York. Interoute is the owner-operator of one of Europe's largest networks and a global cloud services platform which encompasses 12 data centers, 14 virtual data centers and 31 colocation centers, with connections to 195 add...
Apr. 30, 2017 09:15 PM EDT Reads: 2,355
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm.
Apr. 30, 2017 08:30 PM EDT Reads: 1,458
20th Cloud Expo, taking place June 6-8, 2017, at the Javits Center in New York City, NY, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy.
Apr. 30, 2017 08:15 PM EDT Reads: 3,569