Back On Track

Industry experts are bullish on 2023, filling us with hope for the new year.

I think you’ll find this issue of Autosphere Mag very encouraging. Despite the setbacks of the past few years, 2023 feels different. It feels like the world is getting back on track, and I think you’ll find that many of the articles and columns you’ll read in this issue reflect that sense of hope.

For example, in his column in the French edition of Autosphere Mag, Charles Drouin, CEO of Mobilis, and President of the Canadian Association of Auto Show Managers talks about the return of the auto show circuit here in Canada. He says that consumers are “thirsty” for these types of events because they want to see, touch, learn about and compare the many models available to purchase.

Frankly, I agree with his assessment. The pandemic put a stop to all car shows, and now that they’re back (except for the Vancouver International Auto Show), consumers are sure to line up for an opportunity to quench their thirst.

Favourable forecast

I think you’ll also be encouraged by Rebekah Young’s column in the English edition of Autosphere Mag. As the Director of Fiscal and Provincial Economics at Scotiabank, Young offers us a truly positive view of 2023, as she explains that despite a somewhat “rough road ahead, by the middle of 2023 we expect things to improve.”

She explains that the stream of rate hikes we’ve seen throughout 2022, as well as this past January, are likely done for now. Even more encouraging is her prediction that by the end of the year “rates will go down and reignite activity in the economy.”

How about the “R” word: recession? Here again, Young offers more good news, explaining that we are likely to see a “technical recession” in the early part of 2023. This, she explains, means that we will have two quarters of modestly negative growth, but we won’t see a “prolonged, pervasive, deep-and-dark situation that you see in a true recession.”

Of course, unexpected world events and natural disasters may put Young’s forecast into jeopardy, but those of us who are glass-half-full types will continue to hope for the best, and work towards a brighter future. I hope this issue of Autosphere Mag will help all of us to be even more optimistic about the months to come, as we work to get our lives and our businesses back on track.