BMW-Loving Canadians Rebuff Carney to Pile Up Auto Debt – Businessweek

Canadians are finally starting to heed central bank chief Mark Carney’s warnings about the perils of taking on too much housing debt. Yet when it comes to borrowing for a new Porsche or BMW, they aren’t holding back.

Sales of Daimler AG’s Mercedes-Benz have jumped 168 percent since 2004 to 33,116 last year, while those of Volkswagen AG’s Porsche SE have gained 65 percent, according to DesRosiers Automotive Consultants Inc. data compiled by Bloomberg. Bayerische Motoren Werke AG’s BMW 3 Series sales exceeded Honda Motor Co.’s Accord last year as luxury automakers win over Canadians by expanding offerings and pricing some models closer to traditional family cars.

via BMW-Loving Canadians Rebuff Carney to Pile Up Auto Debt – Businessweek.

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