Global auto sales fell by 7.9% year-over-year in April for an eighth consecutive month of year-on-year declines, a new report from Scotiabank says.
The merger would create the third largest global OEM with 8.7 million vehicle sales.
After having been in place for almost a year, the tariffs – 25 per cent on imports of steel and 10 per cent on aluminum – will be removed by May 19.
The Guelph, Ont.-based company is investing US$11.5 million to establish a production facility in Fayetteville, Tenn.
The company’s new plants in Changsha and Shanghai will produce lightweight, aerodynamic parts to help lower emissions and improve fuel economy for China customers.
Just 345 Smart cars were sold in Canada in 2018 after the car went fully electric.
Toyota’s facility in Cambridge, Ont. will produce both a standard and hybrid version of the vehicle starting in 2022.
The 61,400-square-foot facility in Kenitra represents an investment of $11.3 million by Magna and is expected to be operational by spring 2020.
Chemical supplier Borealis AG has announced that its new compounding plant in Taylorsville, North Carolina, has come on stream during Q1 2019 as planned, with the inauguration of the facility scheduled for May 16. With dedicated production lines for thermoplastic…
Scotiabank also forecasts that auto sales in Canada will fall to 1.93 million units delivered in 2019.
Located in San Pedro near Monterrey, this second location is situated in an automotive manufacturing region.
Sales in Canada continued to decline in February, a new report by Scotiabank said, marking the twelfth year-on-year decline in a row off record February sales a year prior.
Auto sales in the U.S. fell for a second consecutive month, a new report from Scotiabank also said.
Excluding China, Scotiabank’s most recent Global Auto Report says, vehicle purchases fell by 3 per cent year-over-year worldwide.
Swiss-based Kistler Group, a supplier of measurement technology, has opened its first Canadian location, a new sales centre near Toronto.
The announcement is part of a 10-year plan for strengthening the auto sector’s competitiveness.
Vehicle purchases in the U.S. also dropped in January, a new report from Scotiabank said, as sales activity rebalances from strong gains in late-2018 and adverse weather conditions keep buyers at bay.
The Germany-based company says it is adjusting production capacity at its London, Ont. manufacturing facility to meet shifting customer demand as the market moves away from passenger cars towards SUVs and crossovers.
But despite posting a decline relative to 2017, the Canadian auto market posted its second best year on record, a new report from Scotiabank said.
Inteva’s plant in Whitby, Ont. supplies components such as headliners, floor consoles, and instrument panels for the Chevrolet Impala and Cadillac XTS.