January 8, 2004

2003 Canadian vehicle sales down 6.4%

Vancouver, B.C. – Combined Canadian car and truck sales in 2003 were down 6.4% from
2002, according to figures released by DesRosiers Automotive Consultants. Total
vehicle sales in 2003 were 1,593,506 compared to 2002 sales of 1,703,246. Passenger
car sales were down 7.4% while light truck sales were down 5.3%.

Overall vehicle sales in 2003 were dragged down by markedly lower December sales
which plummeted an average of 21.3%.

For the year, GM, Ford and DaimlerChrysler all reported lower annual sales. GM
sales were down 12.5%, Ford slid 6.3%, and DaimlerChrysler dropped 13.7%.

Most import brands, with the exception of Kia, Nissan, and Toyota, also fared poorly
in 2003. Honda declined 6.0%, Hyundai slipped 2.3%, Mazda dropped 7.9% (despite a
24.4% surge in December sales), Subaru was down 8.6%, Suzuki plummeted 19.0%, and
Volkswagen slid 9.6%. Gainers included Kia whose sales rose 5.2%, Nissan gained
5.0%, and Toyota jumped 7.3%. Mitsubishi’s increase of 338% can be attributed to a
partial sales year in 2002.

Many luxury automakers reported higher sales in 2003. Audi sales rose 8.6%, BMW
7.5%, Infiniti 28.3%, Lexus 24.8%, Porsche 35.1%, and Volvo 13.9%. However, not
all luxury automakers fared well. Acura was down 9.2%, Jaguar slid 7.4%, Land
Rover dropped 26.3%, Mercedes-Benz slipped 4.4%, and Saab declined 3.1%.

In terms of market share, the big winner was Toyota which gained 1.3% to capture
9.8% of the Canadian vehicle market. Losers included General Motors which lost 2.2%
of market share and now has 28.4% of the market. DaimlerChrysler also lost 1.1%,
and is now down to 13.4% of the Canadian vehicle market.

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