The Canadian Industrial Outlook Service includes detailed five-year forecasts in 16 key Canadian industries. The report examines the short-and medium-term economic and profitability outlooks for these industries.
Canada’s Motor Vehicle Parts Manufacturing Industry: Autumn 2008
Canada’s Motor Vehicle Parts Manufacturing Industry: Autumn 2008
Industry Sector Economics
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- U.S. Slowdown—Motor vehicle sales in the United States are falling dramatically as consumers retrench from the global financial crisis, curtailing demand for Canadian auto parts.
- Canadian Dollar—Although it has weakened over the course of this year, the Canadian dollar is expected to rise back above US$0.85, dampening prospects for motor vehicle parts exporters, who are being forced to contend with competitive headwinds from low-cost foreign suppliers.
- Industry cost-cutting—Canadian automakers are relying on deep discounts to sustain sales, and so auto parts manufacturers are being forced to cut production costs to keep key contracts with the Detroit Three assemblers.
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