"Prices equalize" - will never happen, prices in the US and Canada will never be the same as there are 10 times the population in the US, less regulation, and a more competitive market. Prices in Canada have room to move down perhaps, but will never "equalize" IMO.
He didn't say 'the 08 trailer in Calgary would drop a couple thousand' he said 'it would have been the
same price as the one in Idaho.
Same price means same price. That trailer is worth as much as many cars are, and is sold at a dealer, just the same. A car is just another consumer good.
How much equalization happens eventually no one knows, it's all opinion. But it's not the 50's anymore, we have access to information and ability to travel they could only dream of back then.
I'd suspect for European stuff part is going to be US prices
going up as their makers run out of US dollar hedges or whatever they have been using to soften the blow of the greenback going down.
Toyota and Honda seem to have less price elasticity in Canada than in the States, maybe due to less car nationalism here. So they may not get too excited about equalizing prices. The weaker makers may make things much closer (like Chrysler is now) if not equal.