U.S. car imports continue to boom
Strong loonie 1 reason
Last Updated: Thursday, December 10, 2009 | 12:31 PM ET
CBC News
Canadians imported more than 100,000 vehicles from the U.S. annually for the fourth straight year, the North American Automobile Trade Association said Thursday.
The association says consumers imported 13,604 vehicles in November, bringing the year-to-date total to 112,399.
Industry specialists say buyers are attracted by lower prices and hard-to-find options. (CBC) More than 650,000 vehicles have been brought in over the past four years and more than a million since 1995, when Ottawa introduced a program to allow American auto imports. The vehicles can come from anywhere, but are made for the American market.
Association CEO Brian Osler said the strong Canadian dollar is one reason for continuing strong imports.
"The way the currencies are, Canadians get a lot more bang for their buck," he told CBC News.
The savings depend on the car, increasing with the price.
"If you want to buy a Ferrari, it might be $20,000 cheaper in the states," he said.
Internet plays a role
The internet, too, plays a role, making "Canadians more aware that they might save $2,000 to $3,000 buying an American car," according to Osler. "They can actually go on the internet, take a look at prices in the states, take a look at inventory in the states, they can see what's available where and it's a great tool for gathering information."
Kevin Callahan, the CEO of Import Trader, which helps Canadians purchase American vehicles, says buyers are also attracted by the availability of colours or options they can't get in Canada.
"People are pretty happy when they find out they can buy an American vehicle without hassle through a dealer up here. That's why so many Canadians are importing," he said.
