Canadian auto sales contracted by 1.9% year-over-year for an eighth consecutive month of annual declines in October, Scotiabank’s latest Global Auto Report says, but ticked up by 3.1% from September in seasonally-adjusted terms.
Shuttering the Oshawa plant represents a loss of about 10 per cent of Canada’s auto parts industry, said APMA head Flavio Volpe.
Spurred by rising disposable incomes and continuously changing lifestyles, the increasing production of cars and commercial vehicles will grow the global automotive plastic market at a CAGR of 11.91% from now until 2023, the new report from Research and Market said.
Sales of passenger cars for several major auto companies dipped, a new report from DesRosiers said.
The Ontario government said new rules – which will link future minimum-wage increases to the inflation rate and reduce the number of personal leave days – will help cut red tape and encourage business investment.
But auto sales in the U.S. jumped to an annualised level of more than 17 million units in September, Scotiabank said, beating expectations.
The agreement provides increased access to Canada’s dairy market for U.S. producers, limits the number of cars and the value of automobile parts that Canada can ship to the U.S. without paying higher duties, and preserves key dispute-resolution provisions.
For the fifth consecutive quarter, plastics machinery shipments in North America continued to increase in the second quarter of 2018, according to the statistics compiled and reported by the Plastics Industry Association’s Committee on Equipment Statistics.
Auto sales growth has also slowed down markedly in the U.S. and Mexico, a new report from Scotiabank says.
The Trump administration is calling on Canada to endorse the recent agreement reached by the U.S. and Mexico, which featured important decisions made by the two countries on autos.
The announcement of a bilateral agreement between the U.S. and Mexico “is a step in the right direction”, the trade group says.
Trade policy uncertainty is causing pessimism across the automotive supply base, despite a strong sales and production environment, a new survey conducted by the Original Equipment Suppliers Association says.
Quebec’s plan will see money go towards offering companies liquidity to continue their activities, and to reduce contributions small and medium-sized companies have to make to the province’s heath services fund.
The Canadian automotive parts maker – which has manufacturing operations in all three NAFTA countries, China and throughout Europe – reduced its estimate for total sales in 2018 by 1.4 per cent from its previous outlook.
The drop was led by poor Fiat-Chrysler sales, which recorded their worst month since early-2014.
But cracks are beginning to appear in certain emerging economies, a new report from Scotiabank says, and the threat of rising U.S. protectionism seems to have impacted vehicle sales in China.
According to the Q2 2018 Automotive Tooling Barometer, both die and mold shops in North America experienced a decrease in utilization from Q1 2018 to Q2 2018, with a significant amount of business being pushed to the second half of the year.
But sales in the U.S. continue to beat expectations on the back of strength in trucks, Scotiabank’s new report says.
The federal agency says sales were up in 14 of 21 industries, representing 72.2 per cent of the manufacturing sector.
And driven by increasing production and the growth of government regulations, the global market for instrument clusters will be worth US$9.02 billion in 2018, the report from MarketsandMarkets says.