Scotiabank ups forecast for Canadian new auto sales

Newswire

TORONTO, May 28 (Reuters) - Sales of new vehicles in Canada this year will be the second highest on record despite rising fuel prices and the economic headwinds coming from the United States, Bank of Nova Scotia's economics unit said on Wednesday. Scotia Economics said the strong 6 percent rise in sales so far in 2008 prompted it to revise its 2008 forecast to 1.69 million units from 1.61 million. "The strength reflects improved vehicle affordability as automakers have lowered new ...

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