Canplas, plus two Barrie, Ont.-based tooling suppliers, are receiving funding from the Ontario provincial government.
But daily rental volumes dampened U.S. sales, the report from Scotiabank said.
Stronger economic growth and replacement demand are expected to drive sales higher in North America and Western Europe, a new Scotiabank report said.
Minghua USA Inc, a Chinese automotive parts maker, will open a new North American headquarters in Troy, Michigan, according to the local media sources. The automotive firm, a subsidiary of Jiangnon Mold Plastics Technology, announced plans to spend over US$8.4…
The automotive aftermarket in Mexico totaled $4.3 billion in 2016 and represented 8 per cent of North American demand, a new report from market research firm the Freedonia Group said.
The Italian-American automaker will invest US$1 billion in its Warren, Michigan truck assembly plant to make the Ram Heavy Duty Truck starting in 2020.
A Conference Board of Canada report predicts that dwindling demand in the U.S., reduced interest in vehicle ownership by American millennials, and the aging of baby boomers will result in a decline in Canadian automotive exports over the next five years.
U.S. purchases continue to exceed expectations, keeping full-year 2017 sales above 17 million units for a record third consecutive year, the bank also said.
Magna is supplying NIO’s new ES8 SUV with aluminum body, chassis, and the gearboxes for the electric drive system.
Aurora, Ont.-based Magna said the realignment will create four global, product segments. Additionally, the company plans to report quarterly sales and earnings for each unit beginning in 2018.
The new, modernized facility will be at least 115,000 square feet and will address Hella’s company’s continued growth as well as provide flexibility to adapt to automotive marketplace shifts in the coming years.
Global sales gains were moderate, Scotiabank said, as purchases decline temporarily in Asia.
Based on available data, Scotiabank’s latest Auto News flash says that Canadian sales declined two per cent year-over-year in November, ending the six-month streak of monthly records.
Aurora, Ont.-based Magna is expanding into a larger plant for its mirrors business in Slovakia, and will also install a new automated paint line in the building.
Approximately 20 million euros will be invested in the new plant in Changzhou, Lanxess said; production will start in Q2 2019.
Ford Motor Co. took home the top award for its entry in the body exterior category, a structural front-end module with loose layer construction on the 2018 Expedition.
Auto industry representatives and academics researching autonomous vehicles will work together at the Stratford, Ont. centre to further develop and demonstrate the technology.
Driven by the high level of North American vehicle launches predicted between 2018 and 2020, spending on automotive vendor tooling will reach a record high of US$11 billion next year, a new report from Harbour Results Inc. said.
U.S. purchases defied expectations, Scotiabank also said, remaining at an annualized 18 million units last month.